Imaginos1892 wrote:ELIMINATE INDIVIDUAL INCOME TAX!
At least for people making less than, say, $200,000.
Think about it. Every year, hundreds of millions of people have to either spend hours filling out those excruciating, labyrinthine tax forms, or pay somebody hundreds of dollars to do it for them.
END THE TORMENT!!
Ideally that would be great. But practically it would never happen. I can't find the exact %. The top 1% ($650,000) pay 1/2 of the taxes. The top 20% ($130,000) pay 80% of the taxes. So a rough estimate would be a drop in revenue of about 30% for $200,000. I can't see that herd of cats in DC agreeing to cut that much in spending. Probably be good for the rest of the country if they did though. The level of command and control from DC over just about every aspect of our lives is ridiculous!
Eliminate all corporate tax deductions for paying their executives millions of dollars a year. . They can still do it, but they can't shift the cost off to somebody else.
Sound reasonable.
Also the Wall Street journal had a good suggestion last week. No longer allow corporations to deduct the cost of business entertainment. Right now companies can deduct 1/2 the cost.
Enact a transaction tax on the total value of every stock sale, less than 1%. It will stop all that automated high-speed trading that profits from price fluctuations of a few hundredths of a cent.
I assume you mean where the sell price differs from the purchase price by less than 1%. Fine by me with the addition of a time limit. For example only applies to stock held for less than 6 months. That would still discourage the flash trading but wouldn't discourage investors from getting rid of non- performers.
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Why do so many idiots believe that the way to solve our problems is to keep voting for the same shitheads that caused them?
Don't look at me. I preferred Scott Walker in the last election. He did a decent job of cleaning up his state.