- Target:
- INDIVIDUALS MAKING LESS THAN 230,000 A YEAR
- Region:
- United States of America
- Website:
- taxes.about.com
Tax filing statuses include single, head of household, married filing jointly, married filing separately and widows/widowers. Income brackets for the filing statuses listed are as follows:
Any individual between 186,000 to 405,000 have a tax rate of 33%
Any individual between 86,000 to 186,000 have a tax rate of 28%
Any individual between 36,900 to 148,000 have a tax rate of 25%
Any individual between 9,000 to 73,000 have a tax rate of 15%
Any individual between 0 to 18,150 have a tax rate of 10%
Again, the numbers are based on filing status.
See Federal Income Tax Rates for the year 2014. Numbers may vary for 2015.
My proposal (regardless of filing status):
1. All persons making zero income must file taxes, but do not get any kind of refund, regardless of house hold composition.
2. All persons earning less than 20,000, have a return of 100%. They must pay taxes, but when they file, their tax returns 100% of their income.
3. All persons earning between 20,000 and 30,000 pay 5%.
4. All persons earning between 30,001 to 50,000 pay 10%.
5. All persons earning between 50,001 to 75,000 pay 15%.
6. All persons earning between 75,001 to 100,000 pay 18%.
7. All persons earning between 100,001 to 150,000 pay 20%.
8. All persons earning between 150,001 to 200,000 pay 22%.
9. All persons earning between 200,001 to 250,000 pay 25%.
10. All persons earning between 250,001 to 300,000 pay 28%.
11. All persons earning between 300,001 to 500,000 pay 30%.
12. All persons earning between 500,001 to 1,000,000 pay 33%.
13. All persons earning over 1,000,000 pay 40%
Capital Gains and Dividend Tax (regardless of filing status):
1. Gains of less than 100,000, no tax reduction.
2. Gains between 100,001 to 250,000 pay 10%.
3. Gains between 250,001 to 500,000 pay 15%.
4. Gains greater than 500,001 pay 30%.
Again, the numbers are based on filing status. See Federal Income Tax Rates for the year 2014. Numbers may vary for 2015.
Recently, President Obama has proposed to increase taxes on the wealthy.
President Obama's idea of wealthy are those making 200,000 a year or greater.
In truth, 200,000 a year at our current cost of living is not wealthy.
We as Americans work hard, and the American dream should be work hard, build wealth and enjoy life.
I am proposing a complete overhaul of our federal tax system. I will then, after a sound amount of signatures, submit this proposal to each Congressional representative in Ohio, as well as President Obama, himself.
It is simple, if you do not agree with the above tax proposal, do not sign the petition, however, if you believe our tax system is highly flawed and the above change is fair and balanced, then sign the petition.
You can further help this campaign by sponsoring it
The Tax Reduction for the Middle Class petition to INDIVIDUALS MAKING LESS THAN 230,000 A YEAR was written by Jaclyn Haren and is in the category Law Reform at GoPetition.