REFORM THE INCOME TAX CODE USING A SIMPLE, NO EXEMPTION STEP UP TAX SYSTEM

Our nation needs to move to a simple, stepp up type income tax system which provides transparency by eliminating ALL exemptions for everyone. As a general example, up to the first $50K anyone makes - your income would be taxed at only a 5% rate, the next $50K would be taxed at 15%, the next $150K at 20%, the next $750K at 25%, and anything over $1M would be at a 30%. NO TAX LOOP HOLES, ZERO DEDUCTIONS PERIOD. What you see is what you get. No guessing at what taxes you owe if you know your income. The exact percentages would have to be worked out to fit our country's new fiscally responsible budget but a plan like this would make sure that everyone is paying something and everything is completely transparent. No more guessing as to whether or not someone is paying their fair share!