Gosh, why didn't I think of these things?
On Jun 1, 2014, at 11:16 PM, <[email protected]> <[email protected]> wrote: > > Stiglitz wrote: > APPENDIX: SPECIFIC TAX PROPOSALS > Corporate Tax Reform > • Raise corporate income tax rates while providing incentives for investments > and job > creation in the U.S. > • Reduce spending on corporate welfare > • Impose a special set of financial sector taxes, including the bonus tax, > the financial > transactions tax, the bank rescue fund, and electronic payment system fees > • Impose taxes on monopolies and other rent-based enterprises > • Ensure that multinationals pay their fair share of taxes and have > incentives to invest in > America by replacing the transfer price system with the formulaic approach > and taxing > firms on their global income > • Reduce the bias towards leverage by making dividend payments tax deductible > but > imposing a withholding tax > Individual Tax Reform > • Institute a progressive tax increase > • Institute a simplified individual income tax (e.g. a $100,000 standard > exemption) > combined with a value-added tax, levied at a low rate > • Implement the fair tax, with which we eliminate the preferential treatment > of > dividends and capital gains > • Eliminate the step-up of basis at death > • Eliminate capital gains tax deferral, e.g. using mark-to-market accounting > • Eliminate loopholes for the rich, e.g. the tax exemption of interest on > municipal bonds > • Broaden the tax base by curtailing tax expenditures for top incomes > • Gradually eliminate tax deductibility of mortgage payments by converting the > deductibility into a tax credit (with an upper limit) and/or into an equity > subsidy for > first time homebuyers > • Reduce or eliminate the tax exemption of employer-provided health > insurance, but > balance it with a middle class compensatory tax adjustment > • Eliminate savings subsidies as tax expenditures > Other Taxes and Ways of Raising Revenues > • Impose environment taxes, including a tax on carbon > • Impose inheritance and estate taxes > • Improve management of government owned natural and other resources, > including > be!er auctioning > > -- > Ron > > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
