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Taxes

This section is dedicated to my thoughts on how to solve our current taxation issues. If you have a question about my stance on a certain taxation issue or dilemma, visit my Facebook page to ask me directly.

 
Flat Taxes

I believe a flat tax is one of the most fair options for America. It would gaurentee everyone pays the same, no matter what class or status. A flat tax would help remove many of the loop holes and deductions that grant higher classes the opportunity to pay less than their fair share, while lowering taxes for the middle colass, the backbone of the economy. This would put more money in the pockets of the people as a whole.

I would like to see a tax instituted where the lower income people would not have to pay taxes, while the middle income would pay a small protion and the higher income would pay a higher tax. This would ensure each income bracket would pay a fair share.

I imagine a system like this (which will take some tweaking according to the economy and the income that people generate.)

People making less than $25,000 a year would not have to pay any taxes on their income.
People who make between $25,000 and $35,000 would pay 5% or so.
People who make $35,00 to $250,000 would pay 10% of their income to taxes
And everyone over that would 15% towards taxes.

There would also be very few deductions, but I would like to see them include Children, Education, Medical Expenses and Intrest Payments.

 
Consumption Taxes

In addition to the Flat tax, I would also like to see a Consumption tax instituted.

While the Flat tax would be a constant stream of income for necessities, such as the Military, Government Employees and certain sections of research, the Consumption tax would handle all non necessities, such as foreign aid, government subsidies and the like. I would like to see it remain a low tax, 5-10% but this way, the more money that the people spend, the more that would be put back into the economy. Plus with the flat tax, people have more money to spend on what they need.