>In general, I propose exempting the first $25,000 in income from both income taxes and social security taxes.  At the same time, I would lift the cap on Social Security taxes.  Now employees earning more than $118,500 pay no further social security tax.  If we lift the cap, it will pay for the exemption at the bottom. At the same time I am proposing that corporations do not have to pay their share of social security taxes for those earning under $25,000.  This will encourage employers to hire more workers.

 

Concerning corporate taxes, I propose the elimination of loopholes and a corporate tax rate of 28% with a zero tax rate for manufacturing companies. I also propose a 14% tax rate for income earned overseas to bring home $2 trillion of profits sitting in corporate accounts offshore....

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