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Another thing you could do is a logarithmic flat tax, where everyone pays the same amount of relative resources. The value of money as people get richer is rou
by tunesmith 11y ago
Another thing you could do is a logarithmic flat tax, where everyone pays the same amount of relative resources. The value of money as people get richer is roughly logarithmic. The simplest plan I've seen along these lines is:
Figure your year's revenue. Find out how many times the poverty level that is, for your family size. (Twice the poverty level, 10x the poverty level, etc.) Take the log base 10. Multiply that by some constant that is the same for every tax payer in the nation (both people and businesses). Currently, that "flat" constant would be about 9. The resultant number is your tax rate.
(Hint: this would be a massive tax cut for pretty much everyone short of billionaires.)