I have some numbers (rounded) to put in the pot.<\/p>\n
$13.1 Trillion is the total personal income in the US.
\n116 Million Households in the US.
\n$53,000 Median household income. (half of the households make $53K or more, half make less.)
\n$3.8 Trillion 2013 Budget<\/p>\n
Pay for the Budget –
\nGive all households a $53K deduction. – $6.1 Trillion
\nTotal Income after the deduction – $7 Trillion<\/p>\n
Tax Rate on post deduction income to cover the budget – 54%<\/p>\n
So, put a 54% tax on all income over $53,000 and there is no more deficit. There are no other deductions. Simplified tax code.<\/p>\n
And we can use the corporate taxes to pay down the debt.<\/p>\n
<\/p>\n
(I hate it when I make stupid math errors in public)<\/p>\n","protected":false},"excerpt":{"rendered":"
I have some numbers (rounded) to put in the pot. $13.1 Trillion is the total personal income in the US. 116 Million Households in the US. $53,000 Median household income. (half of the households make $53K or more, half make less.) $3.8 Trillion 2013 Budget Pay for the Budget – Give all households a $53K … Continue reading An Income Tax Proposal<\/span>