(09-27-2017, 02:32 PM)TJBender Wrote:

(09-27-2017, 01:55 PM)B2hibry Wrote: Is this is a good direction?

http://money.cnn.com/2017/09/27/news/eco...index.html

I don't like any tax plan designed to lighten the load on the highest of earners. If we're going to stick with an income tax, it should have graduated brackets with the lowest rates for those in the middle class, second lowest to those in poverty, second highest to those in the "upper middle/high income" fringe group, then the highest (by far) to those making over $200k/yr.

Oh, and find a way to charge companies that move their HQs offshore for tax sheltering all they would have owed if they'd stayed domestic--and then some. How about an exit tax of 50% of that year's revenue for corporations that move their headquarters out of the US, and an ongoing 25% tax premium on all revenue (not just profit) to companies that conduct a significant chunk of their business in America while headquartering overseas?

I think what we'll see as this gets debated is an added 4th bracket or a higher percentage in the top bracket. For me, I see this plan as a win-win as it addresses most aspects. I'm not for letting corporate completely off the hook, but we've seen what happens when you hit major corporation hard in the tax realm. American bases should have some type of incentive and overseas should have a penalty. Perhaps a lower tax bill can even the playing field and spark more growth in the US.

Overall I see this plan as an excellent foundation moving forward. Nice balance of give and take.

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