Nice idea. Obviously the control is the 10%. I don’t like income tax because it has evolved into a wage. Tax in the end if you’re government is lawless you pretty much just suck it up.
No one currently in dc wants their tax power limited.
To wit, look how many people currently there are proposing to limit their taxation power. Zero.
I’m going to disagree, but not without first commending you for your effort - you’ve given a lot of thought to this and it shows.
IMHO, though, the only tax should be sales tax, at the time of purchase. So revenues go up when the laws are beneficial, and down when they harm the country. And nothing is hanging over anyone’s head. Given that, I like your 10% total - I’d apply it across fed, state, county and municipal as a total.
I want FEWER and LOWER.
The Tariff is the only Conservative tax.
Ban all other taxes is original America.
You taxers are all flaming liberals.
Heavy
Well done. Thinking outside the box.
I have always believed FLAT taxes are the way to go. No deductions, easy to calculate and plan for.
Our present tax code is a source of great corruption - everyone angling for a special break, credit or rebate. Absolutely none of that with a flat tax. Helps greatly to limit corporate cronyism and political corruption. Moreover, IRS can’t be used as a political weapon, as they are now in our highly complex tax regime.
I think it was Walter Williams who said that when people start debating the form of taxation the real problem is excessive taxation. Nobody really cares much about how taxes are collected until they become excessive.
They question is 10% of what? Income? Sales? Value of imported goods?
A 10% income tax will bring in a very different amount of revenue than a 10% sales tax.
I like the effort but I think you need to work on the definitions a little.
The issue that I see with this is that it would quickly devolve into a 10% tax of whichever category was the largest.
For example if we do $500B in imports, we have $1T in personal income, we have $2T in business income and $4T in total national sales.....Congress would quickly settle on a 10% sales tax.
Why mess around with 2% of $1T or 4% of $500B when you can cut to the chase and just take 10% of $4T.
I am just making these numbers up but certainly there will be some differences in the total amounts of the 4 categories. It would take a few seconds for congress to figure out which category was largest and tax it at 10%.