3 ms·
> This works if everyone has a exactly one job at all times that is their sole source of income, but fails otherwise. The current W4 form takes dual income/sec
by u801e 8y ago
> This works if everyone has a exactly one job at all times that is their sole source of income, but fails otherwise.
The current W4 form takes dual income/second jobs into account and adjusts the withholding based on that. Changing that withholding to a credit based on income, number of jobs, dependents, etc wouldn't be any worse than it is now, but eliminating the 1040 and other associated forms would definitely be a big benefit.
> even in the case it works, address the problem that a regressive tax with a flat credit is...still a regressive tax.
We have tax brackets now based on income level. Would basing a credit on similar income brackets be any different? Or are you claiming that out current tax system is regressive and my proposal wouldn't fix the underlying issue?