Topic of Week: This week: Tax Reform: Tax the TOP!

This week's topic?: TAX reform: TAX THE TOP!


Very simple The US Government Accountability Office (GAO) did a survey here that discovered that 66 percent of the corporations (NOT SMALL companies, but ALL companies) in this country do NOT pay taxes.

RE-statement: 66% of the corporations in the United States DO NOT PAY ANY TAXES.

Simple Idea:
TAX the TOP!

I say: Eliminate the Current AMT (Alternative Minimum Tax).
Create a NEW, InDEXED alternative Millionaire tax!! (AMT)
(update: no. need to call it the MMT (multiple Millionaire Tax or MMT)

The New AMT (Alternative Millionaire Tax) is simple.

For every Million dollars in GROSS income, your MINIMUM tax due will increase.

Starting at five million dollars you will owe a MINIMUM of 5% of your gross income (or $250,000) in taxes.

at 10million dollars of GROSS Income you will owe a MINIMUM of 5% of your gross income (or $500,000) in taxes.

It should cap at 30% tax, because we don't want to be 'greedy'

Same for corporations.

No more tax exemptions for income transfer, or other games.
The Technical Adjustment TaX Alternative Corporate Tax (TAX-ACT)
will creat a MINIMUM corporate tax, dependent on corporate INCOME, sales, or some other indicator of business transacted in the past year.

IT's a straight ONE percent of sales. PERIOD.

If you had 1 million dollars in sales, your MINIMUM tax due is one thousand dollars

If you had 10 million dollars in sales, your MINIMUM tax due is Ten thousand dollars
(tax table 100M=100k 1,000M=1mil, 10,000m=10mil, 100,000mil=100million)

if you were Walmart and you had 100Billion dollars in sales, you'd pay: 100Million in taxes.


How's THAT for a FAIR minimum tax.

NO SHIRKING your responsibility..

It's the ALTERNATIVE minimum tax, adjusted for good!

This is the topic of the week!

NOTE that these dollars will be neededto help finance some of the new programs I propose, including ToTAL health care and day care, improved education and infrastructure construction.