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Enact sensible tax reform

Created by R.M. on December 10, 2012

Replace the current incoherent tax laws with the following:
1. Count all individual income the same, i.e., wages, interest, dividends, capital gains, etc.
2. Calculate income quartiles based on number of individuals earning at each level.
3. No income tax is levied on income in the range of the lowest quartile for any taxpayer.
4. All income in the middle two quartiles, i.e., that earned by the middle half of taxpayers, is taxed at a flat rate of 10%.
5. All income in the top quartile is taxed at a flat rate of 20%.

The only way to increase taxes would be to increase the amount of money earned by individuals.

Budget & Taxes
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