Nothing in this world is free. Our citizens expect certain things from their government and unfortunately, the only way to pay for these is through taxes. I think that the biggest problem with taxes is that we, the people do not have a clear picture of where these tax dollars are being spent; our government promises transparency and oversight, yet they do not provide it. There needs to be 100% clarity on where every dollar the government spends is going and what it is paying for. We need to stop sending our tax dollars overseas and helping other countries and groups of people before ensuring our own citizens are taken care of first. I am not saying that we do not have an obligation to help those in need but, we need to help our citizens who are in need first.
Many of my proposals will cost money and taxes are the only way to foot that bill. The biggest difference in my tax plans is that the individual citizen would see minimal tax increases. I propose a flat tax on all gross income of 2%, PERIOD. The majority of these taxes or tax increases would affect “mega-corporations” that have billions of dollars in excess profit and if they determine it is cheaper to move out of the country, there will be heavier tariffs imposed to make up the difference.
Corporations that manufacture goods that are harmful to our environment or to the human body will incur a 1% tax on their annual earnings. Industries that provide entertainment and pay their employees (actors, artists, athletes, ect.) will incur a 1% tax on their annual earnings. Industries that choose to automate and get rid of jobs due to that automation will pay a 1% tax on their annual earnings. These taxes are not limited and corporations could end up paying multiple 1% taxes depending on their industry and practices.
Regarding the wealthy manipulating tax code and abusing "gray areas"; those loopholes will be closed. Jeff Bezos paying ZERO income tax in 2017 while receiving over $4000 in child tax credit is is UNACCEPTABLE. Elon Musk paying ZERO income tax in 2018 is UNACCEPTABLE. Warren Buffet paying about .1% income tax on his massive income annually is UNACCEPTABLE.
Additionally, in order for ANY organization to obtain or keep a TAX EXEMPT status they must provide detailed proof of the flow of money in and out. At the end of the fiscal year, NO tax exempt organization will be authorized to roll over more than 25% of their NET "profit" and the money must be put towards the causes the organization promotes; in other words the money cannot be funneled to board members, used for excessive retreats, bonuses or anything deemed to be waste. If a tax exempt organization is found to be in violation of this, they will lose their tax exempt status for 5 years for a first offense and permanently if it happens a second time.
None of this is Socialist. It is fair; everyone pays the same percentage, PERIOD. If your industry hurts our people or the environment, they will pay more.