FORGET Health Care revenue! What is wrong with a 50% tax

[denem]

on individuals and households earning more than $5 million a year?

And for that matter, reforming the income tax structure so the base line is gross income, placing the burden of proof squarely on laundry list deductions, quarantines, trusts, and corporate fronts. Hollywood hello? No more green lights. Deductions should be challenged and strictly limited.

Yes, some middle class taxpayers may be disadvantaged by tighter rules, but given the top 1% (after deductions) 'contribute' almost 40% of income tax revenue' closing loopholes should more than enough compensate lower income earners.

The Challenge, as I see it, is to earmark a fixed proportion for health expenditure. No more dipping into the cookie jar to throw around drip down tax cuts not for the rest of us.

[WillyT]

1. I Agree... See Sig Line...

:hi:

[truedelphi]

2. Also, for years some politicians suggested having a $ .025

Transaction fee on all transactions having to do with Wall Street.
That would add up quickly.

[greennina]

3. Wall Street transaction fees would be awesome...

since normal people wouldn't have to pay them!

[midnight]

4. k&R.

[denem]

5. 50% GROSS INCOME - Again I would like to stress, strictly limited deductions.

No 'imputed losses' on property and investment portfolios which were tax avoidance schemes to begin with. Strip the veils off the trusts and front companies. Follow the money. Gross income puts the burden of proof on the where it belongs: those who spend their money avoiding their responsibilities.