What could be more fair than a flat tax? Exempt the first $25,000 and pay a percentage of every dollar earned above that, whether its $1.00 or $1 million. Everybody has skin in the game, there are no disincentives to earning more money. Tax returns are simpler, and anyone knows where they stand.
>> What could be more fair than a flat tax? Exempt the first $25,000
That’s not a flat tax.
“Exempt the first $25,000 and pay a percentage of every dollar earned above that, whether its $1.00 or $1 million.”
If you exempt the first 25K, then everyone doesn’t have skin in the game. Why would you do that?