Ultra Wealthy Pay Fair Share

Sixty years ago, some of the very wealthiest Americans conspired to seize control of the economy to maximize benefit to themselves. Today the rich have rigged the system so they don’t EVER have to pay their fair share. It is time to fix that.

Our systems of taxation must have the same rules for everyone, not separate rules for the Ultra Rich. This plan doesn't raise tax rates. It makes sure everyone who receives money by whatever means pays taxes on it – that taxes are paid, not skipped. No new governmental organization.

• Eliminate the Inheritance + Gift Tax: It raises little revenue and serves as an excuse for the rich to avoid further reform.
• Universal Charitable Deduction: Everyone gets a $2.5 Million lifetime limit for tax-free giving/receiving ($5M per couple), benefiting the 90% who don't itemize.
• Close the Loophole: After the $2.5M lifetime maximum, the recipient pays income tax—no exceptions.
• End "Step-up in Basis": We eliminate the "Angel of Death" tax avoidance scheme so Capital Gains actually get paid.

These changes raise about $750 Billion a year. The game allows you to spend $650 Billion, with $100 Billion dedicated to paying down the debt. Spend less, reduce the deficit more.

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