| HappySqurriel said: I prefer a modified flat tax system ... Every individual gets a certain portion of their income being tax exempt because it represents the amount a person needs to cover their basic needs, and after that all earnings are taxed at the same rate regardless of how much you make. To put numbers to it, suppose $25,000 was tax exempt and after that everyone pays 25% tax. If you earned $25,000 you would pay $0 in tax and have a 0% marginal tax rate; if you earned $50,000 you would pay $6,125 in taxes and have a marginal tax rate of 12.5%; and if you earned $125,000 you would pay $25,000 in tax and have a marginal tax rate of 20%. No deductions, no loopholes, no tax credits just a simple calculation that can be done on the back of a business card in 5 minutes and adequately protects people from paying taxes on money they need to survive. |
But if the US were to simplify the tax system to that extent, think how many people we have to lay off from the IRS. Think how many accountants would lose their jobs. We need a complex system of taxation. It is not just good for the country, it is a moral imperative. WHY DO U H8 WORKIN FAMILYS?
