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We need progressive taxes! VAT is just noise if you're a billionaire, but it'll be a significant chunk of your income if you're at or below median wage. I alw
by lsllc 6y ago
We need progressive taxes! VAT is just noise if you're a billionaire, but it'll be a significant chunk of your income if you're at or below median wage.
I always liked Steve Forbes' flat tax idea -- the first ~$52K exempted (or whatever median income is) and then a flat rate of 17% beyond that no matter _how_ it's earned (W-2, dividends, long/short term gains, whatever, it's 17%). Oh and we get to scrap the tax code.
https://www.forbes.com/sites/steveforbes/2016/04/18/tax-day-a-painful-reminder-of-why-we-must-have-the-flat-tax/ https://www.forbes.com/sites/steveforbes/2016/04/18/tax-day-...
- tptacek 6y agoIf what you care about is funding services, which is ostensibly what we're taxing people for in the first place, billionaires are just noise; there aren't enough of them to fund anything interesting. A flat tax is great if your goal is to just stop funding anything at all.