Mr. GM, could we get an estimate for how much additional revenue would be brought in by the following tax increases and how much they would reduce the debt (projected to be $17.04 billion with the old rates). The proposed rates are in parentheses, while the old ones are not. If it's not too much work, it would also be great to see a this broken down by bracket (in addition to the totals, of course). Thanks
Mideast Income Tax Rate:
0% $0 - $13,000 (0%)
1% $13,001 - $40,000 (1%)
1.5% $40,001 - $100,000 (2%)
2.2% $100,001 - $180,000 (3.5%)
2.7% $180,001 - $300,000 (5.5%)
3.25% $300,001 - $750,000 (6.5%)
4% $750,001 - $2,750,000 (7.5%)
5% $2,750,001- $9,999,999 (8.5%)
6.5% $10,000,000+ (9.75%)
1.5% Employer conributions to pensions (1.5%)
Mideast Corporate Tax Rate:
0% $0 - $50,000 (0%)
0.5% $50,001 - $75,000 (0.5%)
1% $75,001 - $125,000 (1.2%)
1.5% $125,001 - $350,000 (1.8%)
2% $350,001 - $1,000,000 (2.5%)
2.5% $1,000,001 - $10,000,000 (3.25%)
3.25% $10,000,001 - $20,000,000 (4.5%)
4% $20,000,001-$70,000,000 (5.5%)
5% $70,000,001+ (6.5%)