FairTaxBrackets


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Real Tax Reform  FairTaxBrackets

Wealth distribution

 

Debt

 

Compensation

 

Sign PLI's Fair Tax Bracket Petition

 

Help PLI introduce and enact this legislation:

1.  AWSC Congressional Proposal

 

2.  Fair Tax Bracket Reinstitution Act

 

Nader's Top Ten Books for 2009 lists

PLI's "Ordinary People Doing the Extraordinary" 

by D. Hunn

 

 

 

People's Lobby web site

       AWSC & FTBRA  sponsor




If enacted, People's Lobby's  Fair Tax Bracket Reinstitution Act (FTBRA) would add an IRS tax bracket so that:

A.         Those amounts earned over $5 million annually will be taxed at a 50% flat rate

B.         Those amounts earned over $10 million annually will be taxed at a 70% flat rate.

C.         These will be flat tax rate brackets with no deductions, so that loopholes do not allow the effective tax rate to be significantly less than IRS codes purportedly call for on the rich.

The $5 million household would have to struggle by on a net income of about $4 million per year; the $200 million household on about $126,500,000 per year;  the $1 billion household on about $646,500,000 per year.

If we had kept the site even more progressive tax rates that existed during the Eisenhower, Kennedy, and Nixon administrations, we would not have the wealth disparity and economic breakdowns that we are having today. 

If FTBRA existed, net income would look something like this.
Income Ested Tax % FTBRA % FTBRA % Net Ested
20% 50% 70% Income
$1,000,000 $200,000 $800,000
$2,000,000 $400,000 $1,600,000
$3,000,000 $600,000 $2,400,000
$4,000,000 $800,000 $3,200,000
$5,000,000 $1,000,000 $4,000,000
$10,000,000 $1,000,000 $2,500,000 $6,500,000
$20,000,000 $1,000,000 $2,500,000 $7,000,000 $9,500,000
$50,000,000 $1,000,000 $2,500,000 $21,000,000 $25,500,000
$100,000,000 $1,000,000 $2,500,000 $35,000,000 $61,500,000
$200,000,000 $1,000,000 $2,500,000 $70,000,000 $126,500,000
$500,000,000 $1,000,000 $2,500,000 $210,000,000 $286,500,000
$1,000,000,000 $1,000,000 $2,500,000