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Reform the Tax Code to Have the Wealthy Pay More While Protecting Business and the Middle Class

Created by D.P. on November 12, 2012

We propose several changes to the tax code.
1. Make permanent the lower rates currently used in the payroll tax, while ending the cap on workers and not on business. This will allow more revenue to be generated from the wealthiest Americans without adversely effecting business.
2. Cap the mortgage interest deduction. If you can afford a mansion, you can afford more taxes.
3. Create an Alternative Maximum Tax where if the income you generate via capital gains is higher than the income generated via payroll, then you pay the income rate on your investments and can be taxed at the capital gains rate on your income. This will allow middle class Americans to keep investing at lower rates, while the wealthy pay their fair share.

With these changes, we could keep lower taxes rates, appeasing all

Budget & Taxes
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