in collaboration with Spotlight on Poverty and Opportunity
Implement a reversible income tax
From: JAMES P., MINNEAPOLIS, MN
Implement a refundable tax credit for every adult in the United States: $10,000 per year to replace all forms of income support -- e.g., welfare, unemployment insurance, Social Security, Social Security Disability Insurance (SSDI), farm price supports, mortgage interest deductions, other income tax deductions, and college scholarships. If an adult earns less than $10,000 per year, the government brings him or her up to that level. Children would receive a percentage of the adult tax credit equal to the age of the child times 5 percent. (Thus, a one-year-old child would receive $500, a ten-year-old, $5,000, and a 20-year-old, $10,000).