3 ms·
If you simultaneously got rid of all the deductions, loopholes, etc and made it a true flat tax on all income, then it might work out that the effective rate of
by throw_away 6y ago
If you simultaneously got rid of all the deductions, loopholes, etc and made it a true flat tax on all income, then it might work out that the effective rate of a flat tax policy could be more progressive than the results of our "progressive" tax policy.
I would be interested in seeing what values of ax+b (a being the rate and b being the standard [+ perhaps only] deduction) would work out to be income neutral to our current convoluted algorithm.
- UncleMeat 6y agoI don’t buy this for a second. Even my rich lobbyist family member who abuses the hell out of the tax code to right off ridiculous things is paying a much higher effective rate than somebody making 40k and taking the standard deduction.
- deleted 6y ago[deleted]
- burntbridge 6y ago> If you simultaneously got rid of all the deductions, loopholes, etc and made it a true flat tax on all income, then it might work out that the effective rate of a flat tax policy could be more progressive than the results of our "progressive" tax policy. Define "income"