TAXATION REFORMS
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