Tax Reform- Strategic Additions to #Trump or Ryan/BradyPlan
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Tax Reform- Strategic Additions to #Trump or Ryan/BradyPlan

Critical Point- We haven't done TRUE TAX REFORM since the 1980's- so we are way OVERDUE!! Congress needs to get together and do this for all our sake, as the current system is archaic & overly burdensome for most.
 
 
Besides Immigration, Trump’s biggest campaign unification message was around creating Jobs, America First, being truly competitive, & driving the future for Main Street. He has a broad Comprehensive Tax Reform Package that mirrors very closely the one provided by the House Ways & Means Committee led by Rep. Kevin Brady and Speaker Paul Ryan. It is a very aggressive plan & is truly well done on multiple levels.
I would suggest some strategic tweaks so we can get the desired result intended, as opposed to leave it up to “common sense” of Corporations which sometimes gets lost in their chase for almighty dollars of Earnings. Incentivize some of the bigger simpler issues without creating another version of loopholes, regulations, and compliance cost. Here are my suggestions to Trump, Brady, & Ryan.
 
Repatriation- One Time     15% Tax (dedicate to Inner-City Poverty Reform)
 
Specifically earmark this money to deal with Inner-City Poverty (a Trump Campaign topic) and put it to use to reduce the burden on Government, lower unemployment, deal with a culture of crime & recidivism, & plant true seeds of hope & prosperity in an area of America that has been (although talked about & campaigned to) abandoned by true acts of legislation or leadership to address this blight on American humanity. Use these offshore profits to kick-start this sliver of American culture through minority small business loans, improvement to schools/technologies, & additional law enforcement personnel.
 
Estate Tax-  mandated 10% (Nat’l Debt reduction, only over $1MM)
 
Our $20 Trillion Dollar National Debt will not reduce itself on its own, but will only stop growing and then move the other direction once we Curb our gluttony of spending and discipline ourselves to live within our means. It will also take some targeted monies to apply directly into retiring some of this mountain of debt. An Estate Tax could be one means of finding money to be applied toward debt reduction in a very small way. As opposed to eliminate it entirely as would the GOP plan, it makes more sense to redirect the money and take some of the burden off the Main Street Middle Class Taxpayers.
 
Capital Gains Tax-  NET Amount considered as INCOME, taxed as such
                                401K redemptions assessed SS/Med deductions as well
 
Small Business (< 25 Full-Time emps), Corp US Manufacturing (ALL) – a Tax Rate of 18%
                1% Reduction for each of: (so potential of 15%)
 
CapEx more than their prior 3 year average
Marketing expense more than their prior 3 year average
Healthcare provided & Pension/401K is more than 80% funded
 
It’s not that I don’t trust Business to do the right thing; it’s simply an incentive to stimulate the right thing being done. IF you grow your business and reinvest in your people, then you get rewarded. IF you choose to not do that, you pay a tick more in taxes. Now each Company can choose- which is a very American Independent belief.
 
Corporate- Service- (over 25 Full-Time employees)  A Tax Rate of 25%
                2% Reduction for each of: (so potential of 15%)
 
US HQ-based (defined as main office and most FT employees in US)
More Net US FT employees than prior 3 year average
CapEx more than their prior 3 year average
Marketing expense more than their prior 3 year average
Healthcare provided & Pension/401K is more than 80% funded
 
Now besides growing the Business, it’s about growing the US part of the Business. America First needs an incentive, a reason to be born, raised, and kept in America from a business standpoint.
 
Personal                BRADY plan, Tweak Rates up to 12%, 24%, 36%                                           
 *Ranges- Low is <$60K, Mid $60K-$200K, High >$200K
                **Insurance Bundling-Health/Life/Car/Home Coverage=Tax Credit
It reduces Middle Class burden and shifts some higher end accountability, but still is progressive like a fair tax plan should be. The ranges are not defined, which I would like to see Trump and Company map out a little more. I would also like to see a bundled insurance tax credit to reward the expense of having them- but not using them. This would be an additional relief on the Middle Class which is a group we need to find, relieve, and empower to be Free & Prosperous like prior Generations.
 
Immigration Tax Non-Citizens pay 5% Income Tax- Incentivize Citizenship
 
There are Millions of people here legally that are able to become Citizens who have not. One of the core philosophies within immigration is to become a Citizen as a goal. You cannot be an Immigrant who doesn’t want Citizenship and still be “American” at heart. This tax would incentive Immigrants to take that final step or simply pay an Immigrant tax for not doing so.
               
Social Security Payroll- Uncap it (apply to SS Solvency Trust Fund)
 
The Rich (people over $118,000 per year in income) are capped and do not pay into Social Security and other entitlements past this point of Income. This should be uncapped and take a little pressure off the Social Security equation. Whether in Tax Reform or in Entitlement Reform, this should get done for all of our futures.
 
AMT-      (Alternative Minimum Tax)               Eliminated
 
Charity/Not-for-Profit/Foundation                 Redefine, tiered, eliminated- Revamp who qualifies
 
Territorial                                                              Redefined-
 
Tax only US business so the worldwide income can be repatriated seems one-dimensionally in its thinking. Doesn’t that make Businesses want to do MORE Business outside US? I would favor a tier platform where US Business is taxed LESS than those Companies offshore activities. IF you build here and export, it gets rewarded. If you want to offshore and repatriate, then pay up for it. Either way, the American taxpayer benefits.
 
VAT or Border Tax                                               Instituted-
 
In all the Trade deals being revamped, we should embed and implement if necessary taxes to protect all Nations to “play by the rules” of that deal. The US and any Nation should enter into an agreement of their free will, come to common terms, and then abide by those terms. In any developed Nation, the rule of Law is paramount to success.
 
Mandated 10% VAT on Energy Exports-
(Proceeds applied toward Nat’l Debt reduction only)
 
Supply and Demand is critical here. If you want to export energy, I have no problem with that- BUT (and it’s a serious one) we shouldn’t be reducing our independence or driving up our costs in doing so. So private enterprises can make crazy money off our national resources while we pay up for it here? Put in place an export tax on all energy to put toward the national debt so at least we keep local prices in order and benefit all taxpayers by applying proceeds toward making our nation more fiscally secure by reducing the Debt.

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