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Well for starters, it would at least collect as much as the payroll tax since that's a flat tax for the exact same percentage of just wages (up to a certain amount) that already brings in 950 billion. But due to the fact that there would be no income cap, plus gifts dividiends, capital gains, and other income etc would be taxed at that rate, I argue that just a 15.3% income tax with 0 deductions or exemptions would bring in more than our current individual income tax, not to mention it's fair.
Well for starters, it would at least collect as much as the payroll tax since that's a flat tax for the exact same percentage of just wages (up to a certain amount) that already brings in 950 billion. But due to the fact that there would be no income cap, plus gifts dividiends, capital gains, and other income etc would be taxed at that rate, I argue that just a 15.3% income tax with 0 deductions or exemptions would bring in more than our current individual income tax, not to mention it's fair.
Raising taxes on the poor and middle class and lowering taxes for the wealthy is "fair?"
Well for starters, it would at least collect as much as the payroll tax since that's a flat tax for the exact same percentage of just wages (up to a certain amount) that already brings in 950 billion. But due to the fact that there would be no income cap, plus gifts dividiends, capital gains, and other income etc would be taxed at that rate, I argue that just a 15.3% income tax with 0 deductions or exemptions would bring in more than our current individual income tax, not to mention it's fair.
The Libs would have a heart attack . Scream cry and blame bush
Raising taxes on the poor and middle class and lowering taxes for the wealthy is "fair?"
Sounds like a recipe for a recession.
Actually everyone paying the same % would be "fair". But most people dont really want it to be "fair", they just like complaining and want someone else to pay for their stuff.
Actually everyone paying the same % would be "fair". But most people dont really want it to be "fair", they just like complaining and want someone else to pay for their stuff.
Everyone should have skin in the game, but taxing Bill Gates at the same rate as a waitress is stupid.
Well for starters, it would at least collect as much as the payroll tax since that's a flat tax for the exact same percentage of just wages (up to a certain amount) that already brings in 950 billion. But due to the fact that there would be no income cap, plus gifts dividiends, capital gains, and other income etc would be taxed at that rate, I argue that just a 15.3% income tax with 0 deductions or exemptions would bring in more than our current individual income tax, not to mention it's fair.
Actually everyone paying the same % would be "fair". But most people dont really want it to be "fair", they just like complaining and want someone else to pay for their stuff.
Got Econ 101? Know about marginal utility?
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