Why arent there more tax brackets?

Leweman

Gold Member
Aug 5, 2010
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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.
 
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.
 
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.

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.
 
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.
 
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.
 
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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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