Then, after that lower taxes for people in poverty to 8%. Then, everybody making under $250,000 a year should keep their tax bracket the same. People making $250,000-$400,000 a year should pay 38%, people making $400,000-$1,000,000 a year should pay 40%, and from here on out capital gains other than real estate count as ordinary income, people who make $1,000,000-$10,000,000 a year should pay 55%, from here on out all capital gains count as ordinary income, people who make $10,000,000-$1,000,000,000 a year should pay 70%, people who make $1,000,000,000 or more should pay 85%, for capital gains that don’t add up to this scale the tax rate should be 31.5%, the estate tax rate should range from 25% to 55%, Billionaires should pay a 3% net worth tax, and millionaires a 0.1% net worth tax. In addition, corporate tax rates should be what they were under Obama for small businesses but with a 3% increase if they use fossil fuels and a 20% increase if they are large multinational corporations and use fossil fuels. Half of the money raised from these taxes should go to paying off the national debt and half to the Green New Deal. We should also make sure the national debt is all held by foreign countries rather than private individuals since they also have national debts and so we can all just cancel interest on the debt and if we owe a foreign country let’s say 200 billion dollars and they owe us 400 billion dollars we can each reduce the amount we owe each other by 200 billion dollars.
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