Tax Code

The average American citizen has been subsidizing the wealth of the rich and corporations for over forty years, damaging our minimum quality of life, prospects, and exacerbating unnecessary and unhealthy class divisions. It has also perverted our political system and democracy. Trickle down economics has never worked and has left our nation with staggering debt owed to foreign countries, as well as to some of those same corporations. It's time to decrease the wealth gap, the deficit, and generate the economy with the working class income.

• Every adult receives $500/month from the federal government.
• The first $30,000 in income, regardless of source, is taxed at 0%. This 0% base amount is to be adjusted to keep pace with inflation annually.
• Adults working full-time earning less than $30,000 (or the adjusted amount) shall receive a tax refund for the difference.
• Progressive tax brackets up to 90% for the first five years, then reassessed based on any remaining deficit, inflation, and projected needs to maintain or better the services to the citizenry. Highest tax bracket to remain at 75% or higher. in perpetuity.
• Capital gains on primary home taxed at 15% unless used to purchase a new primary home within one year.
• All other capital gains taxed at progressive rates.
• Itemized deductions for charitable contributions up to 10% of adjusted income are 100% tax-deductible.
• Stocks are assessed at their worth on December 31st of each year, regardless if they have been sold.
• Higher education expenses, including vocational and technical schools, are 100% tax-deductible.
• Medical expenses are 100% tax-deductible.