Dear President George Bush

Dear President George Bush,
Hello! I hope you and the loved ones are in good health! How is your spirit on this glorious day the Lord has made? How about creating a national asset tax on wealthy individuals, businesses, and organizations? This would be a tax that only the very wealthy would have to pay.
For the Individual Net Asset Tax there would be the following deductions: $13.75 million for oneself, $13.75 million for a spouse, and $4.125 million for each dependent under 19 years old living at home. The net asset tax would be as follows:
Net Assets (in millions of dollars) - - / - - Tax
79.7 - 328 : .5% (half a percent)
328 - 1,349.8 : $1.2415 million plus 1% over $328 million
1,349.8 - 5,555 : $11.46 million plus 1.25% over $1,349.8 million
5,555 - 22,861.2 : $64.025 million plus 1.5% over $5,555 million
more than 22,861.2 : $323.62 million plus 1.75% over $22.8612 billion

For the Business/Organization Net Asset Tax there would be the following deductions:
$247 million-standard deduction, $289,500 per employee, and all pension assets would be deductible. The net asset tax would be as follows:
Net Assets (in millions of dollars) - - / - - Tax
570 - 2,361.6 : .5% (half a percent)
2,361.6 - 9,784.4 : $8.958 million plus 1% over $2.3616 billion
9,784.4 - 40,538.6 : $83.186 million plus 1.25% over $9.7844 billion
40,538.6 - 167,958 : $467.61 million plus 1.5% over $40.5386 billion
more than 167,958 : $2.3789 billion plus 1.75% over $167.958 billion

The tax could expire in nine years, and the deductions could be increased automatically by 33% each year. This tax could take the place of the Inheritance Tax, and the national gas tax.

Thank you for your time and consideration. Hope you and the loved ones have a joyous and peaceful day! May the good Lord bless you and the loved ones greatly!


Sincerely,




A concerned citizen