Comprehensive Flat Rate Income Tax

Comprehensive Flat Rate Income Tax, and Social Security Finance Program. For Economic Recovery, Stabilization, Growth and National security.

The Social Security tax rate for self-employed is 12 percent. The Medicare tax rate is 8 percent for self-employed. No Income Cap.

INDIVIDUAL EMPLOYER
Social Security Tax: 6% + 6%

Medicare: 4% + 4%

INDIVDUAL SELF-EMPOYED
FIT. + SSM + SSM

Income Tax: $0 - $20,000. 5% = 15% 25%

$20,000 - $50,000. 10% = 20% 30%

$50,000 - $125,000. 15% = 25% 35%

$125,000 - $500,000. 20% = 30% 40%

$500,000. - $1,000,000. 25% = 35% 45%

$1,000,000. - $5,000,000. 30% = 40% 50%

$5,000,000. - $ Over 40% = 50% 60%

Flat Rate Income Tax, on All non-Social Security Income, No exemptions for any Income, Individual, Corporate Profits, Religious, Non-Profit, Domestic or Overseas Income. Capital Gains, Interest, Estate, and Other Wealth Transfer is Taxed as Income.

Corporations, Religious, Non-Profits will pay the Individual Income Tax Rate, Plus 2% Social Security, 1% Medicare Tax.

2% Surcharge Tax on Overseas Earnings.

10% Import Tax, Comparable to Domestic Manufactured Retail Value.

25% Surtax on any Capital, Assets, or Other Wealth moved Overseas.

2% of all Tax revenues are used to pay off the National Debt.

Estimated:
Revenues $5,285,858,547,500.
Budget $4,750,000,000,000.

Federal Budget not to exceed 85% of Revenues, 90% of Surplus (15%) divided Equally among 50 States based on population. Remaining 10% in reserve for National Emergency.