As Americans, we all need to do our fair part paying down the national debt, providing for our defense, and running our country. But our income tax code is needlessly complicated and regressive. Middle class families should not pay a higher rate or net tax bill than millionaires and corporations.
To get our fiscal house in order will require revenue increases and well as spending cuts and adjustments. To that end, we should:
Tax all income equally, whether from wages, dividends, gambling, interest income, or other sources. Don't privilege one type of income over another.
Double the personal and dependent exemptions. Eliminate all other deductions and exemptions except health care costs.
Raise cap on Social Security earnings to $1 million.
Keep it fair and simple for all.