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Note, I don't endorse or reject the policy below.. just discussing the practical and philosophical implications of such a tax:
Forget flat tax.. how about taxing everyone in a fixed dollar amount, let's say $20,000 a year regardless of if you make $0 or $1 million a year?
Since a person making more money pays more taxes, even with a flat tax but still receives the same benefit from the government, it makes sense that everyone should pay the same tax in dollar amounts.
If you owe the government taxes, it'll be garnished from whatever money you receive, be it wages, dividends, gift money, etc.
Everyone who makes less than $50,000 or so will be driven into bankruptcy, living in homeless shelters and eating at food pantries. That will quite literally be the result of what you are proposing.
Note, I don't endorse or reject the policy below.. just discussing the practical and philosophical implications of such a tax:
Forget flat tax.. how about taxing everyone in a fixed dollar amount, let's say $20,000 a year regardless of if you make $0 or $1 million a year?
Since a person making more money pays more taxes, even with a flat tax but still receives the same benefit from the government, it makes sense that everyone should pay the same tax in dollar amounts.
If you owe the government taxes, it'll be garnished from whatever money you receive, be it wages, dividends, gift money, etc.
Since a person making more money pays more taxes, even with a flat tax but still receives the same benefit from the government, it makes sense that everyone should pay the same tax in dollar amounts.
Not everyone receives equal benefit from the government.
Good luck trying to calculate a dollar value how much government benefits you receive.
Would work fine. Lower tax rate for federal imncome tax would pyut more money in everyone's check per week and strimulate the economy. PLUS, if there were no exemptions, then the government can count on much MORE revenue than it gets now. Couple that with a 2% national sales tax and that is a good plan.
Everyone who makes less than $50,000 or so will be driven into bankruptcy, living in homeless shelters and eating at food pantries. That will quite literally be the result of what you are proposing.
The tax doesn't have to be $20,000 per person. Can be $10,000/person or $5000/person per year.. whatever # brings enough revenue to cover the expenses for the federal government but not any more.
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