Reply #59: Here is a shot at it

[quaker bill]

For the first 20,000 - no income tax, social security only.

for the next 60K, average 10 percent on a sliding scale + social security

for the next 120K average 25 percent on a sliding scale + social security (no cap).

for the next 300K average 45 percent on a sliding scale + social security (no cap)

All income beyond the first 500K 65 percent flat rate + social security (no cap)

This would partially restore tax rates to post WWII levels where the highest tax bracket paid a 90 percent rate.

I would eliminate almost all loopholes and apply the rate to investment income as well. I would leave in a provision that would allow investments that directly purchased plants and equipment in the US to employ Americans as an income deduction and to put people on a more even footing with business, allow first home mortgages (principal and interest) or rent paid for housing as an income deduction.