| You can't run a campaign without talking about taxes--doing so would be practically unAmerican. Yes, there will be a few changes in taxes under my administration, many of them centering around automobiles and homes. Businesses will be charged tax as follows: 1) Businesses making a net profit of less than $1 million will be charged at a rate of 15% of their profit 2) Businesses making over $1 million in net profit will be charged at 20% for EACH million over the $1 million mark, regardless of how much profit they make, rounded to the previous million. (EXAMPLE: a company that reports a net profit of $12,785,000 would only pay the tax on the initial $12 million) Income taxes must be incremented so that the more you earn, the more you pay, based on this scale: 1) Salary under $50,000, tax rate is 0% 2) Salary between $50K and $100K, tax rate is 15% 3) Salary between $100K and $150K, tax rate is 20% 4) Salary over $150K, tax rate is 25% There will be no longer be Income Tax Refunds or tax deductions for anything. After the tax limit has been paid, no more taxes will be deducted from your salary unless you get a raise--then the added payments will be configured on a prorated basis. What this means, for example: If your salary means you would pay $2500 in income tax for the year and your tax limit is paid by August, there would be no further income tax deductions on your salary until the start of the next fiscal year. Some of you may now say, won't that lead to a loss of revenue when some people are now taxed at over 25%? It will be made up in other ways, targeting specific people and actions, as follows: 1) Every pack of cigarettes/cigars/tobacco will have a $1.00 tax added to it 2a) Every bottle, can, or glass (in a bar) of beer will have a 25 cent tax added 2b) Each bottle of wine and hard liquor will have a $1.00 tax added 3a) New cars will be taxed an extra $1,000 3b) Used cars will get an added $100.00 tax if their price is under $2,000 3c) Used cars sold for $2,000-$10,000 will have a $500.00 tax added 3d) Used cars selling for over $10,000 will get a $1,000 tax added 3e) The above tax is payable on "private sales" as well as dealership sales, and will be paid by the buyer of the vehicle 4) Whenever a house is purchased, the new owner will pay a $1,000 tax 5a) Travel tickets and hotel rooms will get a $1.00 Federal tax added 5b) All non-fast food restaurant meals will have a $1.00 Federal tax added INCOME TAXES will be used to supplement Social Security The CIGARETTE/LIQUOR TAXES will add to the Medical Care Fund The AUTOMOBILE TAXES will be used for road maintenance The HOTEL, TRAVEL, and MEAL TAXES will be used in the FEMA natural disaster fund These taxes WILL work, and will also help balance our budget. |