SamuelRSmith said: Assuming that I had my way on all of the above, and the Governmental debt was 0 or close (like, under 10% of GDP), then I would see no valid reason for an income tax at all. At any level. Also, low capital gains, inheritance and corporation taxes. |
What about picking one kind of tax and only doing that? Why do we need so many kinds of taxes?
Then you could lay off 90% of the IRS/Inland Revenue/etc.
Considering all the small ways we are currently taxed, a 50% average income tax would probably be less than the UK pays now [given national insurance, VAT, petrol duty, import duties, capital gains, ..... ]