Getting Progressive Taxation Right

Suggestions:

Gross versus Net Taxation

Taxes should not fall on a person's basic expenses [gross not net]

Allow people to deduct food, shelter & work expenses

1. First Home mortgage or rent.

2. State taxes.

3. Transport to & from work & commerce.

4.  Capital goods should be deferred or deducted for everyone.

A. Deferred over a million dollars value.

B. Deducted if LT Million$.

5. Genuine capital investment has a cost or depreciation. Investments that don't depreciate are actually economic rent.

6. Define strictly & focus taxes on economic rent.

7. Economic Rent should be taxed progressively. 

Rates

1. Social Security & Medicare taxes should be calculated on everyone & subsidized for people with a net income less than 30k$. [2020 equivalent]

2. Payroll differentials should be subsidized for employees making less than 30k$ net or 15$ per hour net.

3. 2 can take the form of Food, Transport & Shelter credits.

4. Social Security accounts available to everyone thru retail or postal banks.

5. 0$ rate on net income less than 50k$

6. 10% rate on portion of income LT 100K$

7. 20% rate on net income over 100k$ and less than 200k$

8. 30% rate net 200k$ - 400k$

9. 40% 400k$ - 800k$

10. 50% 800k$ - 1,200k$

11. 60% 1,200k$ - 10M$

12. 70% 10M$ - 100M$

13. 80% 100M$ - 1B$

14.  90%  GT 1B$ 

All taxes should be indexed for inflation