To: President Donald Trump, The United States House of Representatives, and The United States Senate
Corporate and individual tax reform and balancing the budget
We the people petition the United States government to implement tax reform establishing three tax rates of 10, 18, and 25%. There will be no individual deductions.
We the people petition the United States government to implement tax reform establishing a flat corporate tax rate of 20%. Any efforts at reestablishing corporate welfare will result in the sponsoring member or members of Congress resigning.
We the people petition the United States government to make mandatory of 8% per year until the budget is balanced. The previous year's actual revenue will be used for the current year's budgeting. Special ear marks will no longer be used. If projects do not promote the United States of America they will not be funded. There will be no more corporate welfare and corporate losses will not be socialized.
Projected GDP growth will be used to pay back borrowed money until there is a balance of zero.
Why is this important?
There should be an overhaul of the corporate and individual tax structures. I am proposing that individual tax reform should have three rates. 10% for people making $50,000 or less per year. 18% for people making $50,001-$250,000. And 25% for monies greater than 250,001. There should be zero deductions.
There should be no corporate welfare. The rate of taxation should be 20% on all revenue. If a bill is presented giving a tax break to a Corporation the author or authors should be removed from Congress.
Regarding balancing the budget – there should be a mandatory 8% reduction in each year until balanced with a continuing reduction until the national debt is paid off. If more monies are spent and the deficit continues revenues should be adjusted each year. And we are forced into another war – war bonds should be used to pay for that conflict.