Tax Proposals

• Eliminate income levels on the payroll tax = Medicare and Social Security solvency FOREVER; that is our goal. Assure that all Corporations, not just small businesses, match employee contributions. The total payroll deduction is currently 7.65% of all income up to the first $118,000 earned. This contribution is matched by employers and there are currently certain exemptions for some corporations. Of the 7.65%, 6.2% goes to Social Security and 1.45% goes toward Medicare. I propose we collect a 6.2% payroll tax on all income (no cap) and insure that corporations and small businesses match employee contributions (no exemptions allowed). The end result would be tremendous and make Social Security secure for every generation going forward!

• Support Quantitative easing of the middle class: For the last 8 years, the Fed has been” pumping” Bonds left over from the Financial Crisis into the Stock Market, maintaining Wall Street. Currently, $1.7 Trillion in bonds held by the Fed, was slated to go into the Wall Street “pool”. I propose to convert the $1.7 Trillion in bonds to a cash payment for the middle class. The Bonds can be converted to cash by the Treasury and distributed to 154 million people @ $12K /person, helping the middle class pay off student loans, credit cards, etc. Revenue would be generated without increasing our National Debt. It’s a win-win for the Country. The middle class gets a safety net and revenue is generated for use by consumers in the market place.

• Derivatives a risky financial instrument that precipitated the Crash of 2008. When I surveyed the market last year, Derivative trades were at $1Quadrillion (1000 Trillion Dollars). If we passed a tax on Derivatives of 6% on every $100.00 revenue generated would be a minimum of $660 Billion.