The Big Ideas Project

Eliminate all deduction of expenses associated with off shoring, limit deduction of US HQ/Corporate expenses to that % of revenue taxed here - if 80% parked off shore untaxed then only 20% of Corp. expenses can be deducted. No interest expense csn be deducted for borrowing used to pay dividends, interest on borrowing, stock buybacks, etc. if cash parked off shore is available to be repatriated (and taxed) to cover these expenses.

Submitted by Kitty in Taxes & Budget Dec. 19, 2014, 12:17 a.m.

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#1574

75 votes

Reestablish the top graduated income tax at 70%. Tax at 100% executive total compensation in excess of 20X the compensation paid to the lowest paid employee, full or part time. Recalibrate corporate tax contribution so their total is 35% of total income collected for community benefit expenditures.

Submitted by nokoch in Taxes & Budget Dec. 10, 2014, 9:32 p.m.

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#1585

74 votes

Make a law that all wars must be connected to a special tax to pay for them.

Submitted by jack p. from CA in Taxes & Budget Jan. 4, 2015, 8:37 p.m.

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#1591

73 votes

Tax Reform. Period. Tax all citizens of the United States equal percentages. It doesn't matter if you make 50,000 or 5,000,000. Use the additional Revenue to provide FREE college and healthcare to ALL Americans.

Submitted by Preston J. from MN in Taxes & Budget Dec. 10, 2014, 7:33 p.m.

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#1605

72 votes

Unbiased Tax Code. Tax laws are brokered deals, and negotiations always benefit the most powerful. The current code abuses the middle class by hiding behind marginal tax deductions and supposed benefits for the poor. An unbiased tax code is progressive in nature, includes all citizens, avoids social engineering, and allows for a balanced budget and a reasonable amount of debt. Replacing ALL current taxes with a tax levied on each and every transaction meets these requirements

Submitted by Nick T. from AZ in Taxes & Budget Dec. 10, 2014, 5:51 p.m.

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#1605

72 votes

I believe that taxes should be more progressive, but I also feel that at some level of income (perhaps $200,000) there should be in place a declining ability to deduct further donations. In other words, the richer you are (by income) the less you get to declare as deductions.

Submitted by Yes in Taxes & Budget Dec. 11, 2014, 5:56 p.m.

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#1605

72 votes

Our highly complicated tax and system collected about 2.8 trillion dollars in 2013. The total amount of GDP was 86.6 trillion. Simple math tells us that the government got 3.23% of the GDP. We can abolish ALL of the tax code and replace it with a 4% national sales tax that NO ONE is exempt from and raise far more money and spread it evenly among ALL citizens.

Submitted by Shawn in Taxes & Budget Dec. 18, 2014, 12:33 a.m.

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#1605

72 votes

Perform mandatory IRS tax audits on everyone whose gross income is $1M or more. Perform audits, by lottery, on 25% of those who earn $500K to $999,999.99. For corporations, the same at $100M and $10M.

Submitted by Y. Sam in Taxes & Budget Jan. 3, 2015, 1:18 p.m.

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#1624

71 votes

Estate Taxes. At present the first $5.3M is exempted from taxation and the top rate is 40%. Reduce the "exemptable" amount to $2M, above which the minimum rate is 25%. At $5M, 35%, $10M, 45%, $25M, 55%, $50M 65%, $75M, 75%, $100M, 85%, $500M, 90%. Let's end an aristocratic America, and put more of us in the position of truly having to earn our way, on more equal footing. AMT's set at 85% of above rates.

Submitted by Timothy Salt in Taxes & Budget Dec. 20, 2014, 3:44 p.m.

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#1624

71 votes

Charge a social securiity withholding tax of 5% on individuals on up to 118,000 income with an unlimited employment tax ot 5% 0f all income paid in all forms to any one.

Submitted by kenneth j. from NC in Taxes & Budget Dec. 9, 2014, 4:30 p.m.

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#1640

70 votes

Create a loophole clause, clearly stating the objective of taxes is to collect a certain percentage of overall income from every person or corporation. No loopholes allowed. Anyone who discovers a loop hole is required by law to report it and to not exploit it. Exploiting loopholes so as not to pay what you are supposed to pay should be considered tax evasion and subject to harsh punishment.

Submitted by Daniel W. from MA in Taxes & Budget Dec. 10, 2014, 5:06 p.m.

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#1658

68 votes

Stop making it mandatory for Americans who work abroad to have to file the 1040 form every year, if their income is less than 100,000 per year. Americans who work abroad already have to pay taxes to foreign countries, and should not have to be double taxed.

Submitted by Brooks in Taxes & Budget Jan. 4, 2015, 7:58 p.m.

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#1668

67 votes

Tax stock options as regular income when granted and allow/require gain/loss to be filed when shares are sold.

Submitted by f n. from NY in Taxes & Budget Dec. 10, 2014, 5:15 p.m.

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#1694

65 votes

The Federal Government should be required to protect workers pensions from corporations not fully funding the legally contracted pensions by putting the money in lock box specifically for pension protection. If the government does not protect the worker pensions the Federal Government should have to pay it themselves. .

Submitted by r8dmarshall in Taxes & Budget Jan. 9, 2015, 8:26 a.m.

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#1694

65 votes

Prohibit retired government workers -- every one including military, state and local -- from collecting tax-paid pension benefits until age 62. A sleazy Colorado U.S. Rep. Mike Coffman collects a state pension check and a Congressional paycheck...double-dipping! A significant amount of tax dollars would be saved to meet future legitimate pension. obligations.

Submitted by Mike S. from CO in Taxes & Budget Jan. 9, 2015, 11:53 a.m.

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#1708

64 votes

radically reduce or abolish income tax except for social security pre-payments (FICA) for anyone making under 100,000$ a year. Tax corporate profits instead, especially profits from non-value added activities like most high level and high-frequency stock trading.

Submitted by Doctor Whom in Taxes & Budget Dec. 21, 2014, 6:37 p.m.

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#1708

64 votes

Since major corporations like Caterpillar and GE are complaining about the need to update the nation's infrastructure have them pay for it. These are the same corporations keeping tax dollars outside the United States. Don't let them lobby to have Main Street tax payers pay for their businesses to benefit from updating the infrastructure in the nation.

Submitted by Jean H. from WI in Taxes & Budget Dec. 12, 2014, 1:53 p.m.

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#1724

63 votes

Change the definition of "long term capital gains" to a holding of three years, with a sliding scale from ordinary income to 12.5% over four years.

Submitted by Peter V. from ME in Taxes & Budget Nov. 17, 2014, 6:49 p.m.

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#1724

63 votes

Institute a significant (5% - 9%) financial transaction tax, including on the buying, selling, and merging of companies. If a single mother has to pay a similar rate (sales tax) to clothe her children, the investor class should be taxed, too.

Submitted by pro_pax in Taxes & Budget Dec. 19, 2014, 10:22 a.m.

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#1724

63 votes

Military pensions should be non-taxable income.

Submitted by Robert King in Taxes & Budget Dec. 26, 2014, 1:06 p.m.

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#1724

63 votes

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