bonzobanana said:
Yes that could work. Tax free upto $50,000 and then 80% tax for all income above that or maybe tax free up to $5,000 and 20% tax above that. Whatever if you try to make the lives of the poorer better you will punish the better off more. You need tax for public services to function. The US for example has far too low tax to the point where it is building up a huge national debt because it is spending far more than it takes in. Same as many countries. Over $61,000 of debt per head in US and that doesn't include public liability debt for pensions etc I suspect. Expenditure needs to reduce and tax needs to go up considerably. So not really a time for a flat tax rate. If anything they need to squeeze every level of society to the maximum they can get away with that won't hurt the economy. |
You have to spend less, not tax more.
