My 10 - 30 plan

[OohPooPahDoo]

WTF not? It doesn't sound any dumber than 9-9-9


a 10 thousand dollar grant to all adult citizens and a 30% tax on all income.

eliminate food stamps, education grants, and most forms of government assistance. This instead would be covered by the 10k grant paid to everyone -whether they make $0 or $100,000,000.

All income would be taxed at 30%.

The break even point would be at 33.3k - you'd get a 10k grant but owe 10k in taxes.

If you made 50k - you'd pay net 5k (10%) in taxes (that's after the grant is figured in)
If you make 100k - you'd pay net 20k (20%)
If you make 250k you'd pay 65k (26%)
If you make 1,000k you'd pay 290,000 (29%)

 

[bripat9643]

Your plan is almost identical to the Fair Tax, only your tax rate is higher, and the only tax would be on consumption.

WTF not? It doesn't sound any dumber than 9-9-9


a 10 thousand dollar grant to all adult citizens and a 30% tax on all income.

eliminate food stamps, education grants, and most forms of government assistance. This instead would be covered by the 10k grant paid to everyone -whether they make $0 or $100,000,000.

All income would be taxed at 30%.

The break even point would be at 33.3k - you'd get a 10k grant but owe 10k in taxes.

If you made 50k - you'd pay net 5k (10%) in taxes (that's after the grant is figured in)
If you make 100k - you'd pay net 20k (20%)
If you make 250k you'd pay 65k (26%)
If you make 1,000k you'd pay 290,000 (29%)