An End to Tax Problems?

Here is a quickly sketched out idea for a progressive tax system based on the  original flat tax idea in 1982. This would theoretically bring the lower class to the middle class, the upper class to a slightly less rich upper class, and the middle class to a higher middle class. Large businesses will loose money, to avoid this prices will go slightly up, however, demand will go way down, forcing  businesses to put their prices back down.  

austinmulka.blogspot PFT 1 – Progressive tax Reform bill.

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Bill purpose: To construct a tax system based upon the original premises of the first proposed flat tax rate in 1982, to create jobs, to modify rules of and assure the declaration of gross income deduction. To create a progressive tax based upon income deduction, to avoid jobs being shipped overseas. To illuminate the differences between large and small companies and explain the need for progressive tax.

Progressive Flat Tax Forum(s)

Forum 1 Large Business Tax (example) for income 5,000,000 or less.

Business Name ________________ Employer Number _____________________

Location address ________________City/State Zip Code__________________

County_______________

             

A.               Gross income from sales ________

B.               Costs

1.                Purchases of goods and services _____

2.                Wages, Pensions, worker salaries _____

3.                Purchases of equipment, land, etc. _____

C.               Total Costs ______

D.               Income available to be taxed. _________

E.               Tax (15 percent?) ___________

F.                Tax loss Carry Forward (or tax loss Carry Back)

G.               Interest on net operating loss of carry forward (or carry back) (10 percent)

H.               Carry forward for next year_______

I.                 Foreign subsidiaries tax (15 percent on companies in the U.S.)

J.                Sales tax on company products who have subsidiaries in foreign countries (15 percent)

K.               Total Tax minus sales tax(J) _____________

Forum 2 large Business Tax (example) for income of 5,000,001-15,000,000

A.               Gross income from sales ________

B.               Costs

1. Purchases of goods and services _____

2. Wages, Pensions, worker salaries _____

3. Purchases of equipment, land, etc. _____

C.               Total Costs ______

D.               Income available to be taxed. _________

E.               Tax (20 percent?) ___________

F.                Tax loss Carry Forward (or tax loss Carry Back)

G.               Interest on net operating loss of carry forward (or carry back) (10 percent)

H.               Carry forward for next year_______

I.                 Foreign subsidiaries tax (25 percent on companies in U.S.)  

J.                Sales tax on company products who have subsidiaries in foreign countries (17.5 percent)

K.               Total Tax minus sales tax(J) _____________

 Forum 3 large Business Tax (example) for income of 15,000,000 or more.

A.               Gross income from sales ________

B.               Costs

1. Purchases of goods and services _____

2. Wages, Pensions, worker salaries _____

3. Purchases of equipment, land, etc. _____

C.               Total Costs ______

D.               Income available to be taxed. _________

E.               Tax (25 percent?) ___________

F.                Tax loss Carry Forward (or tax loss Carry Back)

G.               Interest on net operating loss of carry forward (or carry back) (10 percent)

H.               Carry forward for next year_______

I.                 Foreign subsidiaries tax (30 percent)  

J.                Sales tax on company products who have subsidiaries in foreign countries (25 percent)

K.               Total Tax minus sales tax(J) _____________

Forum 4 small business tax (example) for income of 100,000 or less.

A.               Gross income from sales ________

B.               Costs

1. Purchases of goods and services _____

2. Wages, Pensions, worker salaries _____

3. Purchases of equipment, land, etc. _____

C.               Total Costs ______

D.               Income available to be taxed. _________

E.               Tax (7.5 percent?) ___________

F.                Tax loss Carry Forward (or tax loss Carry Back)

G.               Interest on net operating loss of carry forward (or carry back) (10 percent)

H.               Carry forward for next year_______

I.                 Foreign subsidiaries tax (30 percent)  

J.                Sales tax on company products who have subsidiaries in foreign countries (25 percent)

K.               Total Tax minus sales tax(J) _____________

L.                

Forum 5 small business tax (example) for income of 250,000-500,000

A.               Gross income from sales ________

B.               Costs

1. Purchases of goods and services _____

2. Wages, Pensions, worker salaries _____

3. Purchases of equipment, land, etc. _____

C.               Total Costs ______

D.               Income available to be taxed. _________

E.               Tax (10 percent?) ___________

F.                Tax loss Carry Forward (or tax loss Carry Back)

G.               Interest on net operating loss of carry forward (or carry back) (10 percent)

H.               Carry forward for next year_______

I.                 Foreign subsidiaries tax (N/A percent)  

J.                Sales tax on company products who have subsidiaries in foreign countries (N/A percent)

K.               Total Tax minus sales tax(J) _____________

Forum 6 small business tax (example) for income of 1,000,000+

A.               Gross income from sales ________

B.               Costs

1. Purchases of goods and services _____

2. Wages, Pensions, worker salaries _____

3. Purchases of equipment, land, etc. _____

C.               Total Costs ______

D.               Income available to be taxed. _________

E.               Tax (10 percent?) ___________

F.                Tax loss Carry Forward (or tax loss Carry Back)

G.               Interest on net operating loss of carry forward (or carry back) (10 percent)

H.               Carry forward for next year_______

I.                 Foreign subsidiaries tax (N/A percent)  

J.                Sales tax on company products who have subsidiaries in foreign countries (N/A percent)

K.               Total Tax minus sales tax(J) _____________

Forum 7 Individual tax rate (example) for income of 60,000 or less.

A.               Salary + Wages ______

B.               Pensions ______

C.               Total_______

D.               Tax Allowance

1.                Married (10,000)

2.                Single (5,000)

3.                Single head of household (8500)

E.               Number of dependents ____

F.                Allowances for dependents. (Allowances multiplied by 2,100.)

G.               Total allowances (D + F) ______

H.               Total tax wage_______

I.                 Tax (10 percent of H)____

J.                Tax by employer______

K.               Tax due ________  

L.               Refund_________

Forum 8 Individual tax rate (example) for income of 60,001- 100,000

A.               Salary + Wages ______

B.               Pensions ______

C.               Total_______

D.               Tax Allowance

1.                Married (9,000)

2.                Single (4,500)

3.                Single head of household (8000)

E.               Number of dependents ____

F.                Allowances for dependents. (Allowances multiplied by 1,800.)

G.               Total allowances (D + F) ______

H.               Total tax wage_______

I.                 Tax (19 percent of H)____

J.                Tax by employer______

K.               Tax due ________  

L.               Refund_________

Forum 9 Individual tax rate (example) for income of 100,001 or more.

A.               Salary + Wages ______

B.               Pensions ______

C.               Total_______

D.               Tax Allowance

1.                Married (8.000)

2.                Single (3,500)

3. Single head of household (7,000)

E.               Number of dependents ____

F.                Allowances for dependents. (Allowances multiplied by 1,500.)

G.               Total allowances (D + F) ______

H.               Total tax wage_______

I.                 Tax (25 percent of H)____

J.                Tax by employer______

K.               Tax due ________  

L.               Refund_________

1. Reduction in marginal taxes

2. Eliminate the ability to pay taxes overseas through tax loopholes by forcing a sales tax on companies.

3. Tax on capital gains

4. Insurance and medical benefits will be added to taxable income.

5. Cap on interest deductions

6. Eliminate any state or local tax deductions on income.

7. Eliminate capital gains tax on stock market.

8. Gradually increase taxes on companies who have subsidiaries. Price will go up, demand will go down, price will go back down, demand will go back up.