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RE: Tax Reform

in #progressive6 years ago

Here are some other things I would've added but forgot about at the time:

  • Corporate taxes could also have deductions removed, especially accelerated depreciation and loss carryforward deductions. If the loss carryforward deduction is staying in effect, it should be limited to 5 or 10 years (from the current 20)
  • Replace corporate deductions with tax credits for things we should be encouraging from them, like having a certain percentage of workers be from a union (80% or higher) or preserving local ecology or sequestering carbon or whatever the etc. we'd want them to do
  • Carried interest = gone (again, the Single-stream Income Model should be taking care of this, but I'd definitely want to pay attention to this to make sure it's dead)
  • Some other things that I can't remember rn