Taxes

Personal Taxes

 My tax plan is simple.
Personal Income tax.

15% tax on all payroll tax. 

Deductions allowed.

  1.     First 30000 is deducted Single,60000  married filing jointly.      
  2.    5000 each dependent
  3.    Mortgage interest charges
  4.    Renewable energy investments (ie.. electric car,solar panels for home,etc..)
  5.    401K/Roth IRA contributions
  6.    Healthcare contributions.

Estate Tax.  
25% on everything over 10 million.

Value Added Tax.
4% on everything other than food,medicine and groceries. 

Business Taxes

 My tax plan is simple.

Regulations
First we must remove all regulations that serve no good purpose.
We have too many regulations that do not help to keep workers or customers safe.
If it is not related to safety,proper disposal of materials,environment and customer rights/employee rights it has no place.
How business runs itself should be up to them not the government as long as the safety,environment,customers and employees are protected.


Business tax

For those small businesses making under 1 million per year their tax rate would be 5%.
And only deductions allowed would be as follows.


  1.    100% of rent/lease
  2.    200% of labor (full time),100% of labor (part time)
  3.    Cost of materials needed to run business and deliver goods/services.
  4.    200% of benefits for labor (i.e. insurance,401k,etc..)
  5.    Not taxed on the first 100000
     

For those businesses making between 1 million and 10 million per year they will have a tax rate of 20% And only deductions allowed are as follows.

  1.   100% of rent/lease
  2.   200% of full time labor,100% part time labor and 50% other hourly labor
  3.    200% of benefits for labor (i.e.  insurance,401k,etc..)
  4.    200% of contributions to city/state upkeep (ie.  roads,schools,hospitals,fire department,police.sanitation.....not business/property taxes paid to city/state)
     


And for all businesses making over 10 million per year they will have a tax rate of 45% And only deductions allowed would be as follows.

  1. 200% of hourly full time labor 100% part time labor and 50% other hourly labor/100% of salary
  2. 100% of rent/lease/payments for real estate/commercial property
  3. 200% of benefits for labor (i.e. insurance,401k,etc..)
  4. 200% of contributions to schools,sanitation,police,fire department,roads and hospitals.
  5. 250% of contributions/benefits for military personnel.
  6. 100% of resources used to maintain the business and/or deliver services.  ( Provided the resources are made in America, If not made in America 50% deduction. 



Tax rate on profits paid to Executives/Board of directors will be a flat rate of 40% With no deductions allowed.


Corporate Gains tax.
25% on income gained from Investments other than real estate.No Deductions.

20% on income gained from Real Estate.

Only deductions are.

  1. 100% of price paid for Real Estate.
  2. 50% utilities for Real Estate (rentals only) .  
  3. 200% labor costs. (if full time,75%part time.)
  4. 200% benefits for labor cost.


    Excise Tax.
    35% on all American companies who manufacture overseas (if brought back into America).



Estate Tax.  
25% on everything over 50 million.

Value Added Tax.
4% on everything other than food,medicine and groceries.