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Rising Star
Once you add in sales (regressive), excise (regressive), state & local (generally regressive in total) and social trust taxes (flat to regressive), prop taxes, etc, countered by our very progressive income tax... we take about 20-30% from you, rich or poor.
Poorest pay ~20%, rich ~30%, middle class in between.
Personally I say we add in a 100% estate tax. But we don’t have to be mean about it, we won’t take it, you just can’t keep it either. Brewster’s Millions that money within 365 days on domestic services and you don’t owe it. Every time a rich dude dies it’s party on for a year before big bad gov collects the rest.
I’ll settle for a significant land value tax in lieu of a successful 100% estate tax.
Chief
Love it. Generational wealth is anti-American, where we all should earn our way based on our merits. Level that playing field!
Chief
Depends on how much you make. I’d say 95% after your first 100 million. The rest is negotiable.
Chief
Oh, was the question limited to income? I’m pro-wealth tax.
30% for everyone. people at the lower end will get it back in social benefits the taxes will provide. never understood why the current tax system is set up to discourage productivity. i.e if i’m a salesperson and every sale i make past 150k is taxed at 50% then i’d rather just not work past that (unless i’m going to rake in another 100k)
Chief
Quite possibly the exact worst tax scheme.
Enthusiast
Zero for small businesses. Businesses are supposed to be tax collectors but not tax payers. W-2 workers are tax payers.
0 income tax if you make less than 75k. Progressive rates up to about 40% on top earners. Eliminate sales tax except on luxury goods, and then make it steep AF, 50% or so. Tax inherited land at 3%, equities/equity equivalents at 25%, and inherited cash at 50% for any amount in any of those categories over 500k. And then fund basic social programs that other developed countries take for granted.
Visual Storyteller
25%