Which means there still has to be incremental boosts within each tier.
Single page tax form.
Taxable income should be determined only by dependents and out of pocket medical care above $1,000 and other proven casualties. No other tax preferences except real estate tax on residence but no interest and therefore no AMT. There could, however, be consideration for some rent relief.
Earned and unearned income treated as equals.
Single or two page form for businesses and corporations showing gross revenues, plant expenses, other equipment with stringent oversight of declining capital costs, advertising, repairs, salaries, wages and outside labor costs, strict regulation on endorsements and naming rights, stockholder dividends deducted from net profits, local and nationwide charitable causes and so forth.
Tier Rates:
10% up to $50,000 any sum above @18% to the next tier
20% up to $100,000 any sum above @23% to the next tier
25% up to $500,000 any sum above @26% to the next tier
28% up to $1,000,000 any sum above @27½% to the next tier
29% up to $5,000,000 ½% surtax any sum above.
Copyright © 2008 Richard R. Kennedy All rights reserved. Revised: Nov 29, 2008.
http://stevendedalus.joeuser.com
http://www.lulu.com/rrkfinn