Why arent there more tax brackets?

Discussion in 'Politics' started by Leweman, Feb 24, 2011.

  1. Leweman
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    Leweman Gold Member

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    Wouldnt it make more sense to lower the tax bracket of those who make under 500, 000 dollars a year to like 30 percent and have higher tax brackets. Like if you make a million its 40 percent 5 million is 45 percent and cap it off at 50 percent after 10 million. I dunno. tax law is so complicated its rediculous.
     
  2. Oddball
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    Oddball BANNED Supporting Member

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    Would make more sense to get rid of the 16th Amendment, income tax and IRS altogether.

    But then there'd be no mechanism for politicians to reward their friends and "correct" behavior, and punish their enemies and "wrong" behavior.
     
  3. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    I'm a CPA, and I'm the first to say... it's a complete cluster fuck. Agreed, abolish it, the IRS and do a national sales tax, fair tax, flat tax.. whatever you want to call it. a gazillion pages of regs has created a cottage industry for way too many people.

    Not to mention what you pointed out.
     
  4. Leweman
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    Leweman Gold Member

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    What would happen if the tax policy was to tax everyone the same percent down the line no matter the income? And then Corporations increased everyones pay by like 10 percent. Bringing the distribution of wealth down from the top 1 percent.
     
  5. Oddball
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    Oddball BANNED Supporting Member

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    The solution remains the same: Devolve power to the states and massively shrink federal spending.

    We need no unapportioned direct federal taxes on incomes, consumption or anything else.
     
  6. 8537
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    8537 Senior Member

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    It would be really simply - and infinitely less political and inefficient - to have the income tax be a simple progressive function whereby each additional dollar is taxed at some rate slightly larger than the previous, with diminishing increases. Sure, 90% of the population wouldn't know how to do the basic calculus but people could either be referred to a table as they are now or they could do it online.
     
    Last edited: Feb 24, 2011
  7. kwc57
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    kwc57 BOHICA Obama

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    Americans For Fair Taxation:
     
  8. shintao
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    shintao Take Down ~ Tap Out

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    Everybody in America should pay the same amount of USDs in taxes. Whatever poverty ridden folks can afford annually, would be the amount charged.
     

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