James E. Rice has submitted his very own federal tax plan which he guarantees would stimulate the economy due to the lowering and flattening of our monstrous income tax code. Details of his simple plan are below.

Personal Income Tax
The lowest tax rate is 10%, and the highest tax rate is 20% (not to exceed twice the lowest amount)

Income less than 30,000 – 10% or 2.5% minimum after deductions
Income greater than 30,000 but less than 60,000 – 10% or 5% minimum after deductions
Income greater than 60,000 but less than 120,000 – 15% or 10% minimum after deductions
Income greater than 120,000 – 20% or 16% minimum after deductions

Corporate Income Tax
10% if the company provides medical insurance to it’s employees
20% if the company does not provide medical insurance to it’s employees

Capital Gains Tax Rate
10% flat rate for everyone

Dividends and Interest Tax Rate
10% flat rate for everyone

Other Taxes Dissolved
Estate tax to be discontinued
Tanning bed tax to be discontinued
Alternative Minimum Tax to be discontinued

All other federal taxes remain the same

James guarantees the above plan would stimulate the American economy. What do you think?

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