“There is no time to hesitate. Bring back US jobs now.”
The GOP could turn the tables on the Democrats with respect to the tax conversation by:
1) Proposing an immediate across the board 30% tariff on all imported goods. It would raise $600 billion annually.
2) Propose a 5 year plan for energy independence including the opening up of public lands and offshore for drilling. Publicize the billions in tax revenue that would flow to government coffers on the incremental revenues from sale of new oil as well as the jobs.
3) Propose a ten year moratorium on federal taxes on profits derived from sale of products manufactured in the US. Encourage states to do the same.
4) Propose a flat 10% tax on all overseas profits repatriated by US corporations during 2013 instead of the 35% corporate tax rate.
5) Levy a $100 duty on all shipping containers brought into the US to defray the cost of maintaining the infrastructure supporting trade, i.e. the Coast Guard, Customs Service, harbor dredging, navigation system (GPS), NOAA, FAA, Army Corps of Engineers.
6) Maintain the 15% capital gains rate for investments in US companies or US assets.
7) Instead of raising top marginal rates to Clinton era rates as demanded by the democrats, put in place no deductions/no loopholes tax on the truly wealthy as follows: Elimination of all deductions/credits and a minimum 30% levy for adjusted gross incomes exceeding $500,000. For incomes above $1 million set the levy at the 39% Clinton top rate. For incomes over $10 million set the rate at 50%. To protect small business, set a flat 15% federal tax rate for all profits retained in the business while taxing profits taken out of the business at the individual rates.
The plan above would soak the obscenely wealthy such as the Hollywood leftists, Wall Street investment bankers, and Warren Buffett who are funding progressive agenda while protecting the truly job creating millionaire next door who is reinvesting in her/his business.
Excellent ideas, my sincere compliments.
I strongly encourage everyone to read that full post, and consider honestly, the poster’s suggestions.
It would do a (lot) of very positive things.
Again very well done. Do not forget any of your ideas.
So you are saying we should play dirty and use the tax code to punish those at the top who side with dim-o-crats?