Quote:
Originally Posted by GGG
I know it’s not politically palatable but I think a broad based tax increase like raising the 20.5% bracket would be a good idea if not even the 15% bracket. The middle class needs to pay more in taxes if they want the level of services required. We can target tax relief and benefits to those in need with income based programs but base taxation needs to be higher to meaningfully impact revenues.
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Just my 2c...
Instead of raising income taxes on the middle class, I think we should take a hard look at a nation wide property tax. It should be accompanied with a rebate system, so that those who are only paying tax on one home would get roughly the same amount back from the rebate, whereas those who own multiple homes would pay substantially more in property tax than they get back. We could also look at something like a multi-year exemption from the tax for first-time home buyers on modest incomes.