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Taxation
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INCOME TAX REFORM
Repeal or simplify the federal income tax.
- Consider all options for replacing income taxes, including a federal sales tax, or national consumption tax.
- Also consider a general tax on each state, based on the state's respective population size, its gross product, or other measurable factors, and to be collected within each state by whatever means its legislature may choose.
- And open the door to all other proposals, including radical ones, for new sources of revenue to replace that of income taxes, recognizing that such replacement may require a combination of several new sources rather than one only.
- As long as income taxes remain in effect, tax ALL forms of income equally, without making exceptions for any category of income. Thus, tax dividend income and capital gains income and inheritance income equally with wage income, as there is no good rationale for putting these forms of income into separate categories to be treated differently.
Reduce and eliminate federal budget deficits, by both spending cuts and tax reforms, recognizing that this could require some painful cuts in popular programs and increased taxes in some areas.
- Consider instituting a tax on corporate stock sales as a legitimate and efficient method to raise government revenue.
- Increase gasoline taxes.
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