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Reform the tax code! Eliminate arbitrary deductions that favor one group of people/businesses over others.

Created by J.R. on October 28, 2011

1 Eliminate all deductions (except the mortgage deductions)
2 Eliminate taxes on all earnings lower than $25000
3 Create a tax rate of 12% on all income between $25000 & $100000
4 Create a tax rate of 18% on all income between $100000 & $400000
5 Create a tax rate of 28% on all income above $400000
6 Eliminate taxes on all capital gains--with the below exception
7 If a persons capital gains income per year exceeds their salary, the tax rates stated in #3, 4, & 5 above apply
8 Create a 15% domestic corporate income tax
9 Create a 22% corporate income tax on all profits made through the sale of products produced internationally
10 One time tax free repatriation of foreign corporate income - making 35% of repatriated funds mandatorily directed toward documented domestic job creation

Budget & Taxes
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