Progressive Tax Rate on Interest and Dividends

To raise revenue for the treasury and to maintain fairness in our tax code, the following is proposed:

All interest and dividend income below $10,000 per year is taxed at 0%.

All interest and dividend income at $10,001 and below $25,000 is taxed at 10%.

All interest and dividend income at $25,001 and below $50,000 is taxed at 15%.

All interest and dividend income at $50,001 and below $125,000 is taxed at 20%.

All interest and dividend income at $125,001 and below $275,000 is taxed at 25%.

All interest and dividend income above $275,001 and above is taxed at a rate of 30%.

This simple change will pick up over 2 trillion dollars over 10 years for the treasury and make sure the very wealthy pay their share at a fair progressive rate of taxation.