Taxation

Taxable income brackets shall begin at $100,000

• Effectively no persons making under $100k/ year shall be taxed at the federal level

• States, counties, and other tax collecting governments shall abide by the same tax bracket system

• SSI and Medicare tax collection shall be uncapped

Corporate taxable income shall begin at profits above $100,000 of net profit to be in line with income tax brackets

• All corporate subsidies shall be canceled

• No Stock Buybacks

• No tax avoidance or write-offs loopholes shall remain

All current tax breaks shall be slashed and eliminated.

• Only personal deductions shall be allowed

New Tax brackets shall be as follows:

• $0 - $99,999.99 – Taxed at 0%

• $100,000 - $199,999.99 – Taxed at 10%

• $200,000 - $299,999.99 – Taxed at 15%

• $300,000 - $399,999.99 – Taxed at 20%

• $400,000 - $499,999.99 – Taxed at 25%

• $500,000 - $999,999.99 – Taxed at 30%

• $1,000,000 - $9,999,999.99 – Taxed at 90%

• $10,000,000 - $99,999,999.99 – Taxed at 95%

• $100,000,000 - $999,999,999.99 – Taxed at 99%

• $1,000,000,000+ - Taxed at 100%

Tax Exempt entities must adhere to the following

• Failure to adhere to requirements will result in a permanent revocation of tax-exempt status, and persons in leadership positions shall be barred from establishing, chairing, or working with tax exempt entities in perpetuity

• Salaries shall not exceed $100,000 for any member of the entity

• All received donations, funds, etc. must be spent on social, civil, or community actions

All taxable events, payments, reimbursements, etc. shall happen through the appropriate Federal Agency (the IRS), and at no time shall a third party service be required, requested, or utilized to file taxes. 

• The IRS shall expand their offices, and support systems to offer filing services and support for small business owners, or independent business owners, to support their business expenses

• The IRS shall further support all citizens who need it with local and regional offices, and full 24/7 staffing.