A Fairer Tax Policy
In United States enjoyed massive economic prosperity and the ability to create roads and schools that became the envy of the world thanks to making sure that the Top 1% of this country paid their fair share. We saw economic inequality in this nation drop to record lows under Dwight Eisenhower. While the days of having taxes on the Top 1% reach above 80% is unlikely, we can begin to reclaim what was lost and work on reducing income inequality.
Taxing the Top 1%
If elected, I will do what I can to work to increase the taxes on the Top 1% of this nation to at least 45%, if not 50%. This will not only begin to undo the damage to our national debt by the recent tax cuts, but will ensure we can begin to fund infrastructure programs.
Closing corporate tax loopholes
While I would agree with increasing the Corporate Tax Rate to at least 28% again, I currently wouldn’t agree with raising it to 30%. At this point and time we do need to keep it competitive but, just as importantly, we need to begin to focus on closing to corporate loopholes that allow corporations to pay as little as 5% or less!
Keeping the Estate Tax and Protecting Farmers
I have constantly heard about how we need to eliminate the Estate Tax because farmers constantly suffer from it due to the large value of their estates. Yet not once do you hear anyone recommend finding a way for farmers to make farmers exempt. Instead the focus has been protecting millionaires and billionaires and their children from having to pay taxes for a tax that only the Top 1% pays.
I will work on legislation that would ensure farmers are exempt from the Estate Tax if their business would fall under other small business regulations.
A true middle class tax cut
In the most recent tax bill the standard deduction was increased with the promise that the average taxpayer would see more in take home pay. The problem, though, is that this also meant that the threshold for being able to write off things like charity donations went away for many Americans. In short, we leveraged a tax cut for millionaires and billionaires with donations to charities!
If elected, I will push for lowering the standard deduction to it's pre-2016 levels once more while ensuring a middle-class tax cut. Additionally, I will push for charitable giving by those making under $50k to be written off at 80% of its value. Those who give while doing their best to provide for themselves and others should be able to be properly rewarded.