Mr. Tact wrote on Jan 23, 2019, 18:00:
jdreyer wrote on Jan 23, 2019, 17:11:I'd be glad to listen to arguments for and against the particular numbers, but I think this is reasonable way to go about it. Flat rate over a set dollar amount (which would be adjusted for inflation). Or maybe two levels even -- say, something like X% over $100,000, Y% over $1,000,000.
Make a flat tax of 40% of all income over $100,000 per individual, no deductions.
I could see that. No tax up to $100K. Then 35%. Then 50% for everything over $1M.
I chose $100K since it's about double the median income. It still encourages the vast majority of earners to earn more without getting hit with a tax bill. Keeping the money in the hands of the people who will spend it (poor and middle classes) is the best way to create and sustain a robust economy. When the rich have all the money, shit stagnates since they hoard.
Also, let's tax capital gains at 50%, not 15%.
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