3volver@lemmy.world to General Discussion@lemmy.worldEnglish · 10 months agoDoes this plan make sense?lemmy.worldimagemessage-square93fedilinkarrow-up1102arrow-down172
arrow-up130arrow-down1imageDoes this plan make sense?lemmy.world3volver@lemmy.world to General Discussion@lemmy.worldEnglish · 10 months agomessage-square93fedilink
minus-squareMr_Blott@lemmy.worldlinkfedilinkarrow-up22·10 months agoJust so you know, the rest of us grudge our income tax, but pay it because of the massive benefit to us and others less fortunate The answer is abolishing income tax below a certain threshold, and raising it above certain thresholds
minus-squareSpaceNoodle@lemmy.worldlinkfedilinkarrow-up8arrow-down2·edit-210 months agoDing ding ding No tax up to $75k, tax brackets with exponential decay reaching 95% at $1MM, all adjusted for inflation annually.
minus-squareAwkwardLookMonkeyPuppet@lemmy.worldlinkfedilinkEnglisharrow-up1arrow-down1·10 months agoPercentages adjusted for inflation? Do you mean lower percentage of income is taxed during years with high inflation?
minus-squareSpaceNoodle@lemmy.worldlinkfedilinkarrow-up2arrow-down1·edit-210 months agoThe tax bracket limits, obviously.
minus-square3volver@lemmy.worldOPlinkfedilinkarrow-up3arrow-down3·10 months agoThis makes sense, I agree to an extent. Abolishing income tax in hindsight is a bit extreme.
Just so you know, the rest of us grudge our income tax, but pay it because of the massive benefit to us and others less fortunate
The answer is abolishing income tax below a certain threshold, and raising it above certain thresholds
Ding ding ding
No tax up to $75k, tax brackets with exponential decay reaching 95% at $1MM, all adjusted for inflation annually.
Percentages adjusted for inflation? Do you mean lower percentage of income is taxed during years with high inflation?
The tax bracket limits, obviously.
This makes sense, I agree to an extent. Abolishing income tax in hindsight is a bit extreme.