A tax increase proposal

OK, the conservatives say they oppose going back to the Clinton tax rates for those making over $250K because it will kill jobs. So I have a proposal and am interested if anyone thinks it's a good idea or not.

I propose that you raise the rates (back to Clinton) for those making over $250K if they don't own a business and are not hiring anybody. But if they show that they do own a business and are hiring people (other than themselves or a spouse), then they get to keep their Bush tax cut. Sound good?

Some more details. You can tell if a person has a business if they file a Schedule C or some equivalent form with their federal income tax. They may have to add a box where you enter how many employess you have (other than yourself or spouse). Each employee you claim should be working at least 1/2 the year and be working at least 20 hrs a week. They must have a W2 on file showing salary received and showing Social Security and Medicare payroll taxes paid (no illegals here). I'll leave it to extra details on how many employees you must have, but I'd propose just showing you have one. Or it could be 1-10 on a sliding scale.

This way you could have a moderate tax increase for the "wealthy" without having a direct impact on jobs. In fact, maybe it would help jobs if such people want to get their full Bush tax cut back?

How much more of the national tab do you want the wealthy to pay above and beyond the 200% of the income that their current contributions represent? The wealthy make 20% of the income and pay 40% of the income taxes currently, how much more of the income taxes do you think is "fair"? 50%? More than that?

Sounds like a reasonable idea to me pine, that way all these liberals in Washington who are OUR employees, can get the tax increases they want (including the president) and business owners can breath a sigh of relief and are more likely to hire (especially if a tax break was linked to new hires). Our problem will never go away without full employment (5% or less) and full employment revenue will make tax increases on the rich look like pocket change. I wish more people understood how wealth was created and how it does spread down the food chain....unlike some who think shoving money to the bottom of the food chain is a more effective way of fixing a long term problem.

Other

You are making it way too complicated. Simple rates 5/15/25, no deductions and raise 1yr cap gains to 20%, maybe 10% for 3 years holding time. Also raise gas tax for infrastructure. Also 25% corp rate, get rid of all special deductions other than expenses.

Sorry Joe, can't go along with you on taxing the consumer twice. Once when they earn the money and once again when they spend it. Either collect income taxes from the businesses or the population, not both. If you want the businesses to collect the taxes, all well and good, eliminate the individual income taxes. If you want to tax individual income, all well and good, but don't tax the individual twice by hiding the second one in the cost of the goods and services they consume. I would much prefer a government that taxed me once and then kept their grubby hands outta my pockets thank you very much. Tax my consumption or tax my income, not both.

PrintSmith wrote: How much more of the national tab do you want the wealthy to pay above and beyond the 200% of the income that their current contributions represent? The wealthy make 20% of the income and pay 40% of the income taxes currently, how much more of the income taxes do you think is "fair"? 50%? More than that?

Only until they become indentured servents to the other 50% who don't pay any taxes. Then they MIGHT be happy. But unemployment will be over 20% then. But hey! Al long as it's FAIR, it doesn't have to make economic sense or help with jobs! :bash :bash

Tax consumption. Less consumption the more sustainable the planet in every way. This will also not discourage people from working hard who want to save their assets and consume another day - like when they retire.

BRILLIANT!

PrintSmith wrote: How much more of the national tab do you want the wealthy to pay above and beyond the 200% of the income that their current contributions represent? The wealthy make 20% of the income and pay 40% of the income taxes currently, how much more of the income taxes do you think is "fair"? 50%? More than that?

Of course that is totally false, but facts seldom support the conservatives diatribe. According to the CSmonitor:

To put it in numbers, according to the analysis, the top 1 percent of earners account for 20.3 percent of total personal income in the United States and pay 21.5 percent of all federal and state taxes. The middle 20 percent of households earn 11.6 percent of US income and pay 10.3 percent of taxes. The lowest 20 percent account for just 3.5 percent of income, and pay 2 percent of all taxes.

http://www.csmonitor.com/USA/2011/0415/ ... ey-pay-now

There you go again, confusing them with facts....