Hi there everyone, the Lone Wolf here again, thought I would tackle the Federal Income Tax System, which favors the rich, and makes the working poor, pay too much. I have a system, which will speed the system up by at least 1000 percent, it will be environmentally friendly, will make it so easy for anyone to fill out their Income Tax form. That's right, I said Form, one, just one for everyone, one form, one page. think how simple it would be for anyone to fill out their taxes, everyone no matter what they make, would use the same form. So you are wondering, how will this form work for everyone; it allows only one kind of deduction, that is for members of the family. That is it, list your Total Income, now list your family members as deductions, and that is it; subtract the difference, then pay your taxes, which now will be on a graduating scale, based on total Income. This total income will include any renumerations given to that wage earner, for the rich folks,that would include stock options, boats, vacations, vacation homes etc. etc. Everything they are given, will be given a monetary value, and they will pay taxes on these too. Now you are asking what kind of Federal Income Tax Plan would make it so that the working poor, pay less, and the Rich pay a lot more, especially compared to what they are paying now. The plan I have in mind, would be a Flat Tax Plan, with a graduating scale depending on how much one makes. It would work like this.... The wage earners who make less than $100,000 a year would pay a Flat Tax of 10%, of their total Wages, that is the Gross. For example, a family making $45,000 would deduct for family members, say 4, at what $750 each, that would be a deduction of $3000, now deduct this from the $45,000, and taxes for this family would be $4200. The average family now is paying about 22 percent of their income, this would be $9900 before deductions; in the vast majority of cases, this would mean a reduction in taxes of at least 45%. Now for the Second step up.. those making $100.000 to $250,000 would pay 15 percent of their total Gross Income, all taxes are based on Gross,minus only the deduction for family members. The Third step now goes from $250,000 to $100,000,000 (that's One Million dollars), those in this catagory, will be paying 20 percent of their Gross, again deducting only for family members, no other deductions allowed... The final Stage, would be the last one, in this one all making over One Million Gross, this includes a lot of those big shot CEO's, and your sports stars, as well as movie stars, and big singing stars. They will pay 25 percent of their Gross Income. I know, they will have to give up one of their 3 homes, or maybe can't buy that bigger boat, or can't afford that $3000 a day hotels, or some other fineries...poor them. If you make Millions, then you can afford to pay a lot more, finally they will paying their Fair Share. They have been getting away with murder for too many years, now it is time to pay what they should really be paying. They make their big bucks off the back of the workers, most of them in the under the $100,000 catagory.. This new Tax System, will save thousands of Trees, we need a lof them. It will save thousands of hours of needless time, preparing those taxes. It will at the minimum, a savings of at least 10 Billion dollars, in costs associated with checking them, in Washington, D.C.; money that can be used for much better things, like social programs that have been cut, or eliminated. This money can also be used to bring down the deficit, or to replenish the depleted Social Security Fund. Now the loophole, that a lot of the rich will look for, will be closed, that is turning their Personal family into a Corporation, trying to avoid paying their fair share. Those that have not had such a thing in place for a least a year prior to the date of this new Tax System, will be out of luck; they will not be able to try and hide, by starting one now. There will be no other options, they will pay according to their Gross Income, and that is that. This new Tax System, will put enough money in the coffers, that there will be a Balanced Budget, and the Deficit will be gone, within two years, as well as more than enough money to Get the Social Security System back in the black till at least 2050. There will also be enought money to institute all needed social programs, for the poor, and the disadvantaged, Veterans, as well as the older population. In Addition, they need to change the cutoff point of $97,500 for those putting money into the Soc. Sec. System; all those making more, should continue paying into this system for the good of the general population, based only on how much money they make, with no cut-off point. Well folks, this will solve all the money problems, and get rid of the giant deficit that Georgie has left us, as well as finally making sure, that the Rich, really pay their Fair Share of the Federal Income Taxes. I think this same system, should be used in each and every state, for the State Income Taxes. Well that is it for me, John Roberts has given his solution to this one too....
