The Big Ideas Project

Restore the estate tax. 3 of the top 10 wealthiest people in the US are descendants of Sam Walton

Submitted by CPA in Taxes & Budget Dec. 10, 2014, 6:49 p.m.

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#1036

152 votes

Institute an annual progressive wealth tax that would start at 1% on family wealth over $1 million and reach 5% for wealth over $1 billion, with the tax imposed on wealth in excess of $1 million. It would include all forms of wealth, physical or financial, owned directly or indirectly, designed to tax evasion and rapidly reduce our current plutocracy.

Submitted by Dick Burkhart in Taxes & Budget Dec. 10, 2014, 1:48 p.m. 1

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#1047

150 votes

Gas prices are down 50%. Now is the time to raise the gas tax to a percentage, or index it to inflation. There are few better ways to raise revenue for roads and bridges than by charging the people who are actually using them!

Submitted by Scott T. in Taxes & Budget Dec. 10, 2014, 1:13 p.m.

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#1050

149 votes

Combine the public and private Pension/Retirement rules in regulations with no opting out of Social Security for Governmental employees and no spiking of pension benefits with maximum pension payouts for government employees equivalent to those of private industry. Also, eliminate all government and private industry medical care so that all Americans are enrolled in National Healthcare (aka "Obamacare")

Submitted by Smelly Nelly in Taxes & Budget Dec. 10, 2014, 5:07 p.m.

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#1050

149 votes

Our current system of taxation is backwards: I pay 30% and multimillionaires pay 15%. Everyone should pay their fare share and everyone should get the same basic deduction. All income should be included: from salaries, wages, and tips to interest, dividends, bonuses, and capital gains. The deduction should be $60,000 and the rate should be 20% for EVERYTHING over that amount. No other deductions or loopholes whether you are Mitt Romney or Joe the Plumber - one size fits all.

Submitted by Mike M. from WA in Taxes & Budget Jan. 5, 2015, 7:27 p.m.

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#1060

148 votes

Lets have a living wage that will automatically increase or decrease at the same percent congress increases or decreases their own pay. Note; a decrease in our pay will be an automatic decrease in congressional pay. This will cause a riff between congress and monied/ slavery interests.

Submitted by Richard G. from OR in Taxes & Budget Dec. 26, 2014, 6:58 p.m.

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#1087

143 votes

Eliminate tax loop holes that allow large corporations to drastically reduce their taxes, end all corporate subsidies, create tax incentives for companies that manufacture here, end tax breaks for companies that export jobs and manufacturing, create a progressive tax structure that increases income and capital gains taxes as those earnings increase. Decrease taxes on everyone making less than $100,000 annually. Get the IRS off the backs of the middle-class. Reverse the obscene income inequality

Submitted by clara e. from CO in Taxes & Budget Dec. 12, 2014, 4:34 a.m.

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#1092

142 votes

Get rid of the capital gains tax on the first $10,000 made per year for all people and companies. All capital gains from $10,001 and up should be taxed at 35%, regardless of income. This encourages casual investors, i.e. most of us, to invest and to be able to make a little extra per year through careful investments. Large investment corporations, will not even notice a tax free $10,000, and they will continue to pay capital gains, but all at 35%.

Submitted by Pat Ukaleley in Taxes & Budget Dec. 30, 2014, 4:58 p.m. 1

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#1092

142 votes

Create a tax(or fee) on carbon. This would put alternative forms of energy on an equal footing with fossil fuels. The C.B.O. has estimated that a tax on carbon could raise nearly 1 trillion dollars in the next 10 years.

Submitted by Robert S. from NH in Taxes & Budget Dec. 10, 2014, 8:31 p.m.

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#1096

141 votes

Ensure the stability of Social Security by creating a doughnut between today's current maximum and $250,000 and reinstate FICA for both individuals and companies at the $250,000 salary and remove the cap entirely. Index both the current max and the doughnut hole to the cost of inflation

Submitted by John Belbute in Taxes & Budget Dec. 10, 2014, 5:09 p.m.

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#1102

140 votes

I propose that we need a tax penalty for corporations that when they have over a certain percentage of their employees, lets say 25%, on government assistance like SNAP or food stamps they should be charged a penalty equal to the amount of assistance their employees receive. This would mean instead of the taxpayers subsidizing the pay of these extremely profitable companies employees pay they would have to subsidize their own employees pay or actually pay a living wage.

Submitted by Jeffromac23 in Taxes & Budget Dec. 19, 2014, 8:44 a.m.

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#1105

139 votes

Stop penalizing single people with a higher tax rate than married people pay.

Submitted by Ronaye T. from WA in Taxes & Budget Jan. 4, 2015, 7:04 p.m.

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#1105

139 votes

Sales taxes disproportionately affect low wage earners. Eliminate most sales taxes except for those on unhealthy foods, beverages, cigarettes, etc., and luxury taxes, which should be increased. Offset the remaining revenues with taxes on earnings above $500,000/yr., the rate for which should increase over a half-dozen brackets up to $1B/yr, with a rate of 75%.

Submitted by Timothy Salt in Taxes & Budget Dec. 31, 2014, 12:08 p.m.

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#1114

137 votes

NO MORE TAX LOOPHOLES, or DEDUCTIONS, or SUBSIDIES; IN ANY TYPE OR FORM OF COLLECTED TAX ! ~ a GENERAL FLAT TAX for every CORPORATION and for every WORKING INDIVIDUAL of anything one makes in a given year, that is above a nominal poverty level / limit.

Submitted by Will W. from IL in Taxes & Budget Jan. 15, 2015, 8:41 p.m.

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#1139

133 votes

Once a decade, tax accumulated wealth in excess of $2M. 10% up to $10M. 20% up to $50M. 30% up to $100M. 40% up $500M. 50% up to $1B. 65% up $10B. 80% thereafter. We won't reduce the ill effects of aristocracy until we reduce the number and power (from money) of the aristocrats.

Submitted by Timothy Salt in Taxes & Budget Dec. 31, 2014, 12:22 p.m.

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#1148

132 votes

The American budget can not only balanced, but the deficit eliminated and social programs paid for all at the same time simply by cutting military spending in half. America currently spends more on the military than the next 13 countries COMBINED. Even cutting the military spending in half, America would still outspend each and every other nation on Earth. The Pentagon should be forced to work within its budget without any overruns allowed.

Submitted by ACE910046SCA1 in Taxes & Budget Jan. 5, 2015, 12:42 a.m.

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#1173

128 votes

Pass the "American Royalty Prevention Tax" to raise the estate tax for the super wealthy. Estates consisting of non-family owned business assets in excess of $10M should be taxed at no less than 30%. Those in excess of $100M should be taxed at no less than 50%. Those in excess of $1B at no less than 75%.

Submitted by Joe in Wynnewood, PA in Taxes & Budget Dec. 12, 2014, 10:58 p.m.

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#1181

127 votes

Corporate taxes need to be calculated on additional bases which would prevent large companies from paying zero US income taxes. When income taxes are zero, charge a tax based on small percentage of US assets or a tax based on a small percentage of US sales, whichever method is larger. That way a large corporation, such as GE, would be forced to pay US taxes even if accounting "US income" was zero.

Submitted by Tim S. from NY in Taxes & Budget Jan. 4, 2015, 8:16 p.m.

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#1189

126 votes

A Common Sense Housing Investment Act would realign the mortgage interest deduction to better benefit families who need it most by converting the deduction to a 15% flat rate tax credit on mortgages up to $500,000. The bill strengthens the tax benefits for homeowners, while giving working families better access to rental homes.

Submitted by Rep. Keith Ellison (MN-5) in Taxes & Budget Jan. 10, 2015, 11 a.m. 1

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#1202

124 votes

Flow all Income Tax on Social Security benefits back into the Social Security Fund instead of the US General Fund to help extend Social Security solvency. The US government general operations should not lean on Social Security for its funding.

Submitted by Walt Weber in Taxes & Budget Jan. 16, 2015, 12:53 a.m.

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#1202

124 votes

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