Reply #24: Personally, I think that the first $25K should be exempt [View All]

[SoCalDem]

:)

25001-30K....8%
30001-35K....9%
35001-40K....10%
40001-45K....11%
45001-50K....12%
50001-55K....13%
55001-60K....14%
60001-65K....15%
65001-70K....16%
70001-75K....17%
75001-80K....18%
80001-85K....19%
85001-90K....20%
90001-95K....21%
95001-100K...22%
100001-105K..23%
105001-110K..24%
110001-115K..25%
etc, up to max of 35%...

and the ONLY deductions.. interest on ONE home,interest on ONE car, college tuition (in FULL, based on state school),health insurance premiums (in FULL), prescription meds not covered by insurance, and childcare (in FULL, but not for nannies or live ins)...

ALL income is taxed the SAME, whether you chop wood, or go to the mailbox to get investment checks)..

Social security and pensions should NOT be taxable, until they reach 50K ..

How's THAT sound???? I think, with a fair and EASY system, people would not be as tempted to fudge their numbers..

I do not include a charity deduction, because this is where the big shots REALLY clip us.. They donate a painting or property at hugely inflated appraisal.. Charity should be just that... something you do out of the kindness of your heart, not for a tax break..