Here is an alternative plan for Republicans to use to replace Obama Care....a step process. Plan to Repeal and Replace the Affordable Care Act. This is a comprehensive plan to repeal and replace the Affordable Care Act, streamline the IRS and taxation, create jobs, and combat Illegal Immigration. Fixing the problems listed above is really very simple…but evidently not so simple that a politician can do it. Why then could a lowly small business owner come up with a plan when Congress can not? This is a multi-step plan. 1. Tax Reform - A flat 15% tax for all earning in excess of $100,000.00. Limited deductions for personal taxes and only a few (see below) for businesses. 2. Flat tax rate of 15% only applies to businesses that meet the following criteria. A. The 85% rule - All businesses headquartered within the United States must maintain 85% of their workforce within the United States. Businesses Headquartered outside the United States are not eligible for the 15% flat tax. B. Legal Workers - Any business operating within the United States shall only be eligible for the Flat Tax if they are in compliance with item A, and that 100% of those workers are US Citizens, or those eligible to work here. C. In order to be eligible for the Flat Tax any business headquartered in the United States must provide and pay for 100% of health care policy for its employees. A Flat Tax of 15% will only be available to businesses that meet all of the above requirements. Deductions Every company headquartered within the United States meeting all of the above mentions criteria will be allowed to deduct 100% of the monies paid for the insurance premiums of their employees from the bottom line. Businesses headquartered outside the United States meeting the above requirements will be eligible for the same benefits as a US business. Those businesses headquartered outside the United States and those US companies that do not meet the requirements above, Flat Tax rate of 35%. Limited deductions will be allowed for those taxpayers (personal tax only) that earn less than $100.00.00. Somewhat similar to those allowed now but very streamlined. Illegal Workers An illegal worker is ANY worker who is in this Country illegally and therefore not eligible for employment. It is the responsibility of the employer to verify the status of all workers. Any business found employing illegal workers shall be subject to the following. 1.) A fine of $5,000.00 per worker discovered. 2.) This fine will double with the second offense to $10,000.00 per worker 3.) A third offense will incur a penalty of $20,000.00 per worker and the business license will be revoked, and criminal action taken against the owner(s) or officers of the corporation. 4.) These penalties are non-removable through bankruptcy or through any court action. A flat tax will level the playing field for all. Deducting 100% of the Insurance premiums for employees will encourage businesses to hire. Penalties for illegal workers will solve the illegal worker problem Of course there will still be some Governmental responsibility for those people who simply cannot work. Those who will not work are on their own. Though this plan does still incur Governmental responsibility the cost when compared to the Affordable care act is minsicule. It may not be perfect but its more of an idea than I have seen any politician come up with.
Posted on: Sun, 11 Aug 2013 23:26:11 +0000
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