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    Posted July 27, 2011 by
    horseman14
    Location
    Gate City, Virginia
    Assignment
    Assignment
    This iReport is part of an assignment:
    Will you still invest in stock market?

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    Tax Plan

    By horseman14  |  Posted July 27, 2011  |  Gate City, Virginia
     

    CNN PRODUCER NOTE     horseman14 says, 'Don’t pay for wars and tax cuts on the backs of senior citizens who barely get by on Social Security and Medicare. They have already paid their dues.'
    - Cortnee H, CNN iReport producer

    Here is the tax plan I propose.  No taxes of any kind (i.e. sales, user fees) except income tax and Social Security tax.  Everyone pays SSA tax on every penny they make.  Lock box on SSA.  From 10% above poverty line to median income 10% tax.  Median income to three times median income 20% tax.  Three times median to seven times median 30% tax.  Seven times median to 12 times median 40% tax.  Above 12 times median 50% tax.  From these taxes give states 5% and local governments 2%.  If you want to fund a war, enact a fitting war tax of a percentage of your tax bracket.  All money made by sending jobs out of this country should be taxed at 95%.  This is not perfect, but a good starting place.

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