10-15-1 Tax Plan

In my book, I outline a 10-15-1 tax plan, (page 67). This would be a flat tax, eliminating most other federal taxes and eliminating most deductions and tax credits. This calls for a 10% income tax, 15% corporate tax on businesses earning 1 million dollars or more per year, 15% income tax on individuals earning 1 million dollars or more per year and a 1% national sales tax. Most other federal taxes would be dropped. Deductions and tax credits would still apply for real estate, mortgage interest, business investments & equipment, and several other areas as determined. Capital gains taxes would be eliminated. People earning 1.3 times the national poverty level or less would not be taxed.