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Make Deficit and Tax Code Changes

Created by D.B. on May 16, 2013

A change to the tax code to benefit the people of the United States and pay off the majority of the deficit. Income taxed in 4 groups; poverty level to lower class citizens 0%, middle class 9%, upper middle class 15%, wealthiest individuals ($250,000 annual income or more) 21%.

Small companies (0 - 100 employees) 0 - 5% , medium companies (101 - 499 employees) 6 - 11%, large corporations (500 - 1499 employees) 15% and the largest corporations (1500 or more employees) 21%. Most corporate welfare deductions would be eliminated but those that remain would only be allowed for small and medium companies.

Congress, federal execs and judges would get a 1st year pay cut of 10% and cut 5% annually for 3 more years. Future pay increases are based on deficit reduction results and keeping balanced

Budget & Taxes
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