You’re not going to like this

Here are a few policies I think we should pursue to help reduce the federal deficit.

ð  Phase out, over the next 20 years, at 5% increments each year, the federal tax deduction for home financing (mortgage) interest.

ð  Discontinue all home mortgage/financing deductions for new instruments beginning in five years.

ð  Phase out, over the next 10 years, at 10% increments each year, all federal farm and agricultural subsidies, not subject to renewal or replacement for five years.

ð  Sunset all other federal subsidies annually, subject to specific, itemized renewal.

ð  Immediately discontinue federal subsidies, tax exemptions and deductions for all oil, gas, and coal exploration, extraction, production, refining, distribution, marketing, management or other application of any kind.

ð  Increase, permanently, the federal highway fuel tax by 5% for each of the next two years; reserve for transportation use.

ð  Set corporate federal income tax rates to coincide with married-couple tax rates.

ð  Make all individual and (for-profit) corporate income, including all benefits, bonuses, contributions, discounts, stock options, personal perks and the like, subject to federal income taxes beginning at the federal poverty level plus one dollar (fpl+$1). No exclusions; this means Social Security retirement and disability and other now-exempt incomes.

ð  In conjunction, revamp the tax code with a lowest rate of 10% and a highest rate of 33%, the latter for income in excess of $1.5 million; graduated in an exponential curve with gradients not to exceed $500.

ð  Tax carbon emissions.

And that’s just for starters.

!