INTRODUCING THE GRADUATED FLAT TAX
50% on all income beyond the first $15,000 per year.
(NO separate rate for "Capital Gains." There is no justification for that.)
Someone making $15K would pay zero.
$20K - $15K = $5000 divided by 2 = $2500 = 12.5%.
$25K - $15K = $10K / 2 = $5000 = 20%.
$65K - $15K = $50K / 2 = $25K = 38%.
$115K - $15K = $100K / 2 = $50K = 43%.
$915K - $15K = $900K / 2 = $450K = 49%.
$1 Million & 15K - $15 = $1M / 2 = $500K = 49.9%.
Now, some will say this is "punishing success." No, it's punishing greed, while being easy on the poor and fair to the middle class. Justice!
CHILD TAX CREDIT
$4K per year for the first child, $3K / year for the 2nd kid, $2K / year for the 3rd, and $1K for the 4th.
If you can afford more kids, go for it. If you can't .. don't have them! We must not reward irresponsibility.
WHAT ABOUT THE HOUSE DEDUCTION?
A clear majority of Americans can no longer afford a medium size house in good repair in a safe quiet neighborhood not more than an hour's drive from employment and shopping. (Isn't that part of what "middle class" used to mean, before it got redefined down over and over again?)
Partly that's because of the decimation of the middle class's income by inflation, but it's also partly because of the simultaneous explosion in house prices. And that explosion in prices was partly because of the giant house deduction (which helped the most ruthless monkeys a lot more than "regular Americans".) We need to rethink that.