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Eliminate the tax loopholes created by trusts and muni bonds

Created by T.C. on December 27, 2012

It is well known that the truly rich in this country will be able to avoid the new tax levels even after they rise because they have the means and legal advisers required to substantially reduce their income to a level that has them paying less than the middle class taxpayers (as a percentage of income).

Please revoke the muni bond exemptions and eliminate all tax exemptions for trust funds. In addition, put in place a maximum tax deduction of $50,000 for all individual taxpayers. Eliminate the cap on SSN taxes so that system has a better chance of solvency as well.

These will ensure a playing field that no longer penalizes the people who are in the middle class.

Budget & Taxes
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