Working toward a populist conservative tax reform for America.
The Rubio-Lee tax plan is a courageous attempt to begin a discussion about real policy stuff intended to be relevant in our present political culture. The conservative capitalists don’t like it because of the child credit and the liberal welfare state people want the higher income folk to pay more taxes. Both are upset so just maybe we have a good starter proposal.
I, this nobody of the little people has a reputation for an arrogant streak so let me be true to form and make a few tweaks to the Rubio-Lee plan and call it the Rubio-Lee-Goslaw federal tax reform plan. Let’s tweak it! My intention is to tweak the tax reform toward the interests of the young working middle class families of America, who have long deserved action out of Washington in their favor.
The critics of the Rubio Lee plan are correct, this plan will not lead the country into conservative deficit reduction going forward. Numbers are not my strong point but with a few changes the fortunes of the working middle class and deficit reduction can be improved. Possibly a numbers cruncher out there would apply their expertise to examine the budget worthiness of the Rubio-Lee-Goslaw plan.
Populist features of the Rubio Lee Plan.
1. Leaves high income earners approximately the same. (39% to 35%)
2. Reduces code to 2 levels instead of seven. (simplifying code to 15% and 35% )
3. Higher 35% would begin at $75,000 income for single filer or $150,000 for married.
4. Reducing deductions to only Mortgage and Charitable. (Also simplifying the code)
5. Rewards child rearing with a per child tax credit of $2,500. ( that is a credit not a deduction)
6. Investment income is not taxed.
Changes or Additions
1. No earned income tax credit. (revenue plus)
2. Reduce married higher 35% tax level to begin at $100,000. (rev. +)
3. Mortgage deduction limited to one lived in residence with less than a $1 mil. retail sales price. (rev. +)
4. Charitable deductions limited to $5,000 a year. (rev. +)
5. All citizens must file and pay some federal tax. ($100.00 min. tax...rev. +)
6. All investment income taxed federally at 15%. (rev. +)
7. All welfare income, federal and state, taxed at 5% ^ 4. (rev. +)
8. National one page tax reporting. ( big rev. + with less IRS)
Everyone participates and everyone pays a price for government. Any and all of these ideas are available without charge.
G.Goslaw
Landers, Ca.
