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Not at all, especially if you exempt basic necessities. Poor would still pay low to zero tax because those costs are a greater percentage of their income. And y
by chrisco255 6y ago
Not at all, especially if you exempt basic necessities. Poor would still pay low to zero tax because those costs are a greater percentage of their income. And you could even subsidize the taxes with a universal monthly payout.
- PaulDavisThe1st 6y agoSuch a scheme doesn't change things for the poor (defined by those who don't earn enough to pay any taxes). But it does change the effective tax rate ratio between the middle class and truly rich. The middle class will pay a higher effective tax rate than the truly rich, because the middle class spend more of their income.