Tax Reform

tax reform

(total income) minus (survival income level), is taxed so survival income (what people actually need) is not taxed, and need is adjusted for dependents and cost of living in area.

NO PROPERTY TAXES OR WEALTH TAXES!! 😡

total income minus survival need is taxed at a FIXED PERCENTAGE rate of 35 %

instead of having a wealth tax there could be an increase of the percentage tax on unneeded INCOME (not unneeded wealth and not total income)
for people with net worth over 1 Million $
the wealth increase unneeded income tax percentage should gradually rise corresponding to net worths rising over 1 Million $ and should rise closer and closer to 100% of unneeded income (NOT WORTH) but never actually reach 100%. It will effectively put a cap on wealth growth but it would not make rich people start getting poorer.
This wealth INCOME! feature not an ordinary wealth tax, should be determined by a mathematical curve:
Percentage= (1-(50/((worth over 1 million$)+50)))*65

It's a 65 limit because this millionaire tax on unneeded income is added to the existing 35% tax on unneeded income.


There should be stiff monetary penalties for hiding wealth and income. Penalties would be in the form of a temporary raise of the percentage tax on unneeded income of the offending (hiding income or wealth) persons.

Stock market gains and interest/capital gains and trust fund income and inheritances are included in regular income total.