Taxes

BOTTOM-UP TAX CUTS

At CULP, we aim to lift the tax burden from the poor, working, and middle class through bottom-up tax cuts. Wealthy individuals have long benefited from subsidies, bailouts, favors, and top-down tax breaks. We believe the wealth of nations does not trickle down, rather it sprinkles up; it grows like grass: up from the roots.

First abolish all regressive taxation, such as sales taxes, tariffs, and taxes on labor (FICA “contributions”); these place a heavier burden on the poor, working, and middle-class.
Second cut income and property taxes bottom-up. To have the least negative impact on economic growth, the goal is to abolish income taxation, leaving only wealth/property taxes. These should have large standard personal exemptions so that at least half the society is paying nothing in taxes.