Ooo, fun with calculus on a political website. Meanwhile over at Democratic Underground they are arguing over whether counting to 21 is cisgender male oppression.
Posted on 10/23/2021 5:03:14 PM PDT by Kevmo
For several years I have advocated a Shallow Exponent Flat Tax. Instead of 4 or 5 tiers, there would be only ONE tier that we all face. But the more money you make, your burden goes up slightly higher than as a flat percentage.
The tax would look something like: Tax = 10% X {[Income]^1.05}
The exponent could be set by congress every 10 years or during wartime. The flat exponent perhaps should be on a longer timeframe for revisiting, because 10% is very easy to do in your head.
As you go up higher in income, your tax burden goes up as well. This way the rich "pay their fair share" while not having to face a bracket bunching.
One single tier. Flat tax. And yet, still progressive.
Democrats move to finalize new ‘billionaire’ tax proposal, targeting 700 wealthiest Americans as key source of revenue for spending plan
https://freerepublic.com/focus/f-news/4006182/posts
Put on your flame retardant suit before all of the
advocates of the “Fair Tax” and all of it’s
exemptions and “prebates” show up.
Just make it a flat tax and be done with it. Everybody should pay the same percentage of their income, if anyone has to pay.
1. Giving Congress the chance to tinker with the equation blows it up right there.
2. Define wartime. Congress has not declared an actual war since December 8, 1941.
3. Just out of curiosity does your proposal ever provie a balanced budget or pay down the federal debt?
More tiers? Is it then really a flat tax? The fair tax is out there-study it. It could help us get rid of the income tax. My tax plan would require workers to PROVE they worked 2k hours in one year. Paycheck stubs. Cheater employers pay a corporate tax tat others don’t have too. Everyone puts out to the point where they are too tired to mess with other people’s wives.
‘We don’t have a tax problem, we have a spending problem.’
I like the thought, but this math would be terrible. You would be better off specifying a max and a min and calculating where your income falls in the curve for a factor on the base percentage.
Basically the same as we have now without the brackets and making sure that everyone pays.
We are going to have to do something with our national debt, I would like to see every form of government assistance turned into a no interest account that any overpayment of taxes or tax credits would flow into first before any cash payments would be paid out in excess of what you actually paid in the year.
Stop taxing income all together.
And, YES! Many of us suppoet the FairTax model.
Dump the IRS, completely.
IT’s the right way to fund government.
If Tax = Rate * Income ^ Exponent, then your marginal tax rate would be Rate*Exponent * Income ^(Exponent-1) power.
In your example it would be 10.5% * (Income ^ 0.05).
For someone making $100,000 the marginal rate would be 18.67%.
| $10,000 | $1,585 | 15.8% |
| $20,000 | $3,282 | 16.4% |
| $50,000 | $8,589 | 17.2% |
| $80,000 | $14,068 | 17.6% |
| $100,000 | $17,783 | 17.8% |
| $200,000 | $36,820 | 18.4% |
| $500,000 | $96,365 | 19.3% |
| $1,000,000 | $199,526 | 20.0% |
| $10,000,000 | $2,238,721 | 22.4% |
I was suggesting this in the 1970s
No, you apply the exponent first and on income, not on the rate.
His example is
10% * (10000^1.05).
I supplied the parentheses for clarity. But they weren’t really needed.
Ooo, fun with calculus on a political website. Meanwhile over at Democratic Underground they are arguing over whether counting to 21 is cisgender male oppression.
Absolutely not. If you target the rich they will demand, AND GET, things from the politicians. Flat Tax with NO Tiers on upper end.
Tier it on the lower end to help the poor.
We don’t need federal taxes on the people at all.
Probably there should only be taxes on the States, and the states should choose how to collect it however they like.
If taxes were collected that way the states would have a much larger say in how the federal govt spends money.
(or easier we could just print whatever money we need, It doesn’t seem like anything is stopping anyone from just doing that)
Why tax income?
How much a person earns is their business, not the governments!
Tax consumption!
Those who earn more, spend more, and will pay their FAIR share!
And your objections to the FAIR tax are?
All forms of progressive taxation are wicked.
Actually, Jim, we have a taxing AND a spending problem!
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