I’m ready to accept a tax break for all taxpayers earning under $1 million” at least temporarily if it’s revenue neutral and paid as we go. Since this change raises the national debt by a little less than $300 billion or so (though still way less than the $700 billion that would be increased if the millionaires’ tax cut had happened), we need to raise the other $300 billion somehow.
1) extend the Obama and Bush tax cuts for people earning under $250,000 permanently.
2) extend the Bush tax cuts for people making $250,000 to $1 million for three years temporarily. Cutting off the last seven years saves about $200 million.
3). Instead of raising the millionaire tax rate 3% to the old Clinton rate, raise it to 4% or 1% above the Clinton rate. This will raise more than $100 billion. And we can use the additional $40 billion or so to reduce the deficit.
I announce the plan on the Willis Report:
Mark Hosts the Leslie Marshall Show
- 8/22/2019 Radio Inside Scoop
- 8/15/2019 The Pandemic of Gun Violence
- 8/8/2019 Another Gun Massacre: Just Another Day in the USA
- 8/1/2019 The CNN Democratic Debates, a Breakdown
- 7/19/2019 You Can’t Eat Racism
- 7/11/2019 Trumpism: Self Loathing Turned Outward
- 6/27/2019 What About The Children?
- 6/20/2019 Trump: Ready to Collude Again
- 6/13/2019 An Existential Threat
- 6/6/2019 Guns, Gays, Abortion, and Freedom!