taxes need to be raised and directed towards reducing the deficit. Prior to raising them though there should be a mandatory reduction in Gov't spending each and every year of 5% passed into law that can only be changed by a national referendum (vote). Then a graduated tax schedule should be imposed that exempts the first $25,000.00 of income then begins collecting taxes on a graduated basis starting at something like 5% for incomes between 25,001.00 to 50,000.00; then 7% from 50,001.00 to 60,000.00; moving to 10% for 60,001.00 to 70,000.00; up to a 28% tax on income above 200,000.00 as an example. No deductions. No exemptions. Each person pays independently whether married or not. No earned income credit. No exemptions claimed on w-4's and any other jobs you may have must be listed on the w-4 as well as your pay rate for it (them) so that taxes can be calculated correctly.. You make this much...you pay this rate. There should also be a Nationl sales tax instituted of 1-3%. This would ensure that everyone pays some level of taxes for the benefits the government provides. For the average working person there would be no need to file tax returns. Any business would be required to register and working under the table or failing to register would be a criminal offense. Business deductions would be limited to wages paid w/CEO pay tied to that total; cost of materials and equipment necessary to produce their product; and other common business costs (with limits). Taxes would be required to be paid quarterly...no extensions...no excuses. Inside of ten years, barring unforseen circumstances (i.e. world war, invasion from space, etc.) Our country would probably have a surplus equivalent to the current debt. There are other parts to this to address jobs, standard of living, and a number of other issues but that's for a latter date. Look forward to any other points of view pro or con. Thanks.
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