Non-mainstream ideas you would implement if President

[NickMPK]

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I would radically change the tax system. I would replace our current annual income tax, and most other taxes, with a very progressive tax on all income. This would include capital gains, gifts, inheritances, etc. So estates would not be taxed, but heirs would.

Additionally, I would change the accounting system so that you aren't taxed based only on the previous year's income. Instead, you would be taxed based on something like 10% of your income for each of the past 10 years. So if you earned an inheritance of $1 million, it would be treated as though you received income of $100,000 for each of the next ten years, which would tax this income in a much lower bracket than someone who actually earned $1 million every year.

The tax would probably be about the same as it is now for middle-income earners, but reach about 95% once a person was making over $1 million/year. Taxes would also be lower for the working poor because the income tax would replace the regressive payroll tax.

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See how many people will work when you are taking 95% of the money.....it wont be worth the effort. this is the perfect recipe for turning the US into a third world country.

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As clearly evidenced by when everybody stopped working and American civilization collapsed in the 1950's when the top income tax rate was 94%.

People who make many millions of dollars a year work because they enjoy working and/or they enjoy the acclaim and sense of worth that it brings them. They may care about their income, but it is more in comparison to others in their field as a measure of relative success than as an absolute number. Anyone who is that rich & has something they would rather be doing than working is already doing it, because they already have the money to do whatever they want.

Take the Beatles, for example. In the song "Taxman", the band specifically whines about Britain's 95% tax rate on the wealthy. Yet had the tax rate been lower, would it somehow have motivated the Beatles to make a better album than Revolver?