Former Lt. Gov. John Mutz and the Main Street Growth and Opportunity Coalition [June 2 Viewpoint] on trade and tax reform is insufficient. They should endorse creating good-paying jobs with good benefits for American citizens by repealing all sales and consumption taxes, and replacing the lost revenue with a tax or tariff on imported labor and manufactured goods.
Burn both the federal and state individual income tax codes and give each income-receiving American citizen a $50,000 standard deduction while keeping current dependent exemptions. Then tax the next $50,000 at 2 percent, the next $50,000 at 4 percent, the next $50,000 at 6 percent, etc., until the federal and state budgets are balanced.
Collect impact fees. No corporate welfare. No illegal aliens.
Increase the minimum wage. Burn U.S. business and corporate income tax codes, and place a “fair tax” (with a standard deduction of $5 million) on all U.S. business and corporate sales/revenue including foreign after deducting compensation and benefits for American citizens’ labor, except for CEOs and their immediate subordinates.
All standard deductions and exemptions should be adjusted for inflation. Collect an export tax on natural resources and commodities such as oil, natural gas and grains.
These strategies will reduce inflation, income inequality, declining real median family income and increase demand for Made in America.
Brent Pittman, Brownsburg