Revise the tax code to;
If you receive income you pay employment and Medicare taxes. There is NO cap. If you receive $20+ million you pay employment and medicare tax on the entire amount. Income received from investments is considered self-employment income subject to an employer and employee contribution. Abolish the alternative minimum tax. Abolish capital gains tax. Abolish dividend tax. Raise the personal exemption to $100,000. Drop incremental tax rates above $100,000 across the board. to compensate for the employment “base” tax.
If you are the controlling interest (sole proprietors, partners, stockholders) in any business entity, you receive a pro-rata credit against your personal employment tax equal to the total amount of employment tax paid (to the US Treasury) by ALL US employe