Tax+Reform

**Tax Reform:** Our focus is on corporate and income tax. We believe in reforming these two tax rates to make America more competitive in comparison to other countries. Our aim is to tax the wealthy a bit more, and tax the poor very little.

**Corporate Tax:** The current corporate tax rates in the United States are 0% to 38%. The current corporate tax rate is 25% in China, 29.8% in Germany, 16.5% in Hong Kong, 9% in Montenegro, and 0% in the Bahamas. To keep America competitive with other countries, the maximum corporate tax rate should be lowered to 28%.

**Income Tax:** Currently, the highest income tax percentage is 35%, which applies to everyone who makes $379,151 dollars and above (with exception of the Married filing Separately category). The country is letting the people who are making millions of dollars off the hook by permitting them pay the same tax rate as paid by people who make dramatically less. Compared to income tax rates currently, we have reduced the rates for the poor and added more categories with higher rates for the wealthy.

$500,000 || $6,000,000 || $1,000,001 – $6,000,000 || $1,000,001 –  $6,000,000 || $50,000,000 || $6,000,001 –  $50,000,000 || $6,000,001 –  $50,000,000 || $300,000,000 || $50,000,001 –  $300,000,000 || $50,000,001 –  $300,000,000 ||   **Gas Taxation:** We believe in conserving natural resources and finding creative solutions to environmental problems. Burning fossil fuels contributes to Global Warming, and world hydrocarbon supplies are diminishing and are becoming increasingly expensive. Therefore, "pressure" should be applied to encourage environmentally sound practices. This "pressure" is to add a $.15 per gallon tax on gasoline. This encourages citizens to walk, ride the bus, carpool, ride their bikes, and invest in fuel efficient cars.
 * **Marginal Tax Rate** || **Single** || **Married Filing Jointly or Qualified Widow(er)** || **Married Filing Separately** ||
 * **5%** || $0 – $8,500 || $0 – $17,000 || $0 – $8,500 ||
 * **12%** || $8,501 – $34,500 || $17,001 – $69,000 || $8,501 – $34,500 ||
 * **22%** || $34,501 – $83,600 || $69,001 – $139,350 || $34,501 – $69,675 ||
 * **28%** || $83,601 – $174,400 || $139,351 – $212,300 || $69,676 – $106,150 ||
 * **32%** || $174,401 – $379,150 || $212,301 – $379,150 || $106,151 – $189,575 ||
 * **35%** || $379,151 – $500,000 || $379,151 – $500,000 || $189,576 –
 * **36%** || $500,001 –$1,000,000 || $500,001 –$1,000,000 || $500,001 –$1,000,000 ||
 * **37%** || $1,000,001 –
 * **38%** || $6,000,001 –
 * **39%** || $50,000,001 –
 * **40%** || $300,000,001 + || $300,000,001 + || $300,000,001 + ||

**Incentives:** Incentives will be given for all fuel efficient cars. High sales taxes and no incentives will be applied to cars with poor fuel efficiency. The below table shows the rates of sales tax and the incentives based on highway MPG fuel efficiency.


 * **Fuel Efficiency (HWY)** || **Incentive** || **Sales Tax** ||
 * **10 mpg or below** || Nothing || 25% ||
 * **11 mpg** – **18 mpg** || Nothing || 20% ||
 * **19 mpg** – **24 mpg** || Nothing || 15% ||
 * **25 mpg** – **30 mpg** || $500 || 8% ||
 * **31 mpg** – **45 mpg** || $1,000 || 6% ||
 * **46 mpg** – **60 mpg** || $2,000 || 5% ||
 * **61 mpg** – **72 mpg** || $2,500 || 2% ||
 * **73 mpg** – **80 mpg** || $4,000 || 2% ||
 * **81 mpg +** || $5,000 || 1.67% ||