A Progressive Flat Tax by Justeconomics
All income you receive will be taxed at a single rate (~25%?) subject to the following two adjustments only:
1. Deduct $10,000 from your household's income for every living breathing human being
2. Deduct/Add your net deposits/withdrawals to/from any saving or investment account.
Repeal:
Corporate taxes
Capital gains taxes
Payroll taxes
Property taxes
Estate taxes
Sales taxes (except when applied to control externalities such as cigarette taxes or gas taxes)
If you support a family of 4 with a $40k income, you will pay no taxes. If you have an income of lots and lots of money, you will pay about 25% in taxes.
If you want to raise more revenue, increase the tax rate (on everyone). If you want to make the tax more progressive, increase the personal deduction.
Showing posts with label taxes. Show all posts
Showing posts with label taxes. Show all posts
Tuesday, May 26, 2009
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