Billionaire philanthropist Warren Buffet says if corporations paid a full 28% tax rate, no worker would have to pay a dime in federal taxes. 

Large national and multi-national corporations have been reaping record profits on the backs of American workers who make up the backbone of U.S. infrastructure.

American consumers and workers PRODUCE RECORD PROFITS for these large corporations with assets in excess of $500 million.

One year Sanyo sold over 25 million units in the USA, but didn't pay a dime of federal taxes - thanks to their buddies in Congress writing corporate tax laws for corporations.

In 2024 the Corporate Tax Rate in the United States stands at 21 percent.​

Donald Trump and Republicans want to cut the current 21% corporate tax rate to 15%.​

TDP contends meaningful tax reform is made possible by IRS collection of a loophole-free, 28% corporate tax rate on all businesses with total assets over $500 million.

One of the meaningful, significant benefits of collecting a full, loophole-free 28% corporate tax rate is eliminating all federal income tax for all persons earning less than $1,000,000 per year.

Another meaningful, significant benefit of collecting a loophole-free 28% corporate tax rate is eliminating Social Security taxes for all persons earning less than $250,000 per year and fully-funding Social Security INDEFINITELY.

TDP supports increased IRS funding to force collections of a loophole-free 28% corporate tax.

TDP supports a 25% tax on the 1,000 U.S. billionaires who currently pay less federal taxes than you do.

Last year in 2023 the U.S. government collected $4.4 trillion in federal taxes.​

In 2023 the U.S. government spent $6.1 trillion. That's a deficit of $1.7 trillion.

Where does the $1.7 trillion come from?

It comes from the Federal Reserve - those funds are fiat funds, made out of thin air, literally from the desk of the Chairman of the Federal Reserve, who literally keystrokes the dollar amount the Secretary of the Treasury requests from the Federal Reserve, hits send and deposits said amount into a U.S. government bank account at the Treasury Dept.

Then the Federal Reserve sells U.S. bonds to cover the amount created and deposited.

Modern Monetary Theory indicates there is no need for the Federal Reserve to sell U.S. government bonds to China and foreign investors to raise money to fund the U.S. government.

There is no need for a Federal Reserve precisely because Congress has the constitutional authority to create money without "borrowing money" from any central bank or government.

There was never any need for Congress to engage in "deficit spending" had Congress followed the constitutional path created for Congress and based our U.S. money supply on a U.S. balance sheet that features debits, credits and public expenses.

There's no good reason why Congress can't fund the U.S. budget by collecting a full, loophole-free 28% corporate tax rate from mega-corporations, imposing a 25% tax on U.S. billionaires and by Congress itself funding the remainder of the budget via Congressional currency and marking it as a public expense on a U.S. balance sheet.

Writing off public expenses the way corporations write-off business expenses and marking it as an expense on a balance sheet, is preferrable to our current system of borrowing more and more money, selling more and more U.S. bonds to foreign investors.

Either way, the U.S. is going to engage in deficit spending - the choice is do we sell U.S. bonds to raise money or should Congress simply deposit the money directly into a U.S. gov't bank account at the U.S. Treasury for public spending purposes and list that amount as a government expense on a U.S. balance sheet and books.

I believe the incumbent party should set the federal interest rate, not a Fed Chairman.

Elections have consequences, and one of those consequences should be The Majority gets to set the federal interest rate, instead of an unelected corporate officer.

Tax Reform