How would you change the U.S. tax system?

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ucim
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Re: How would you change the U.S. tax system?

Postby ucim » Sun May 14, 2017 11:26 pm UTC

Euphonium wrote:
slinches wrote:
Euphonium wrote:0% income tax on all income up to $50,000 per household member. 100% tax on all income above $50,000 per household member.
You know this is supposed to be Serious Business, right?
Yes, and I'm completely serious.
I guess you don't mind totalitarianism.

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CorruptUser
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Re: How would you change the U.S. tax system?

Postby CorruptUser » Mon May 15, 2017 2:19 am UTC

Or have a basic understanding of just about any social science, let alone economics.

P13808
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Re: How would you change the U.S. tax system?

Postby P13808 » Sun Jul 09, 2017 2:38 am UTC

No sales tax. No income tax below the poverty line. No wealth tax below, say, $300,000. Progressive income and wealth tax with a continuous function after that. 100% estate tax past, say, $300,000.

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CorruptUser
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Re: How would you change the U.S. tax system?

Postby CorruptUser » Sun Jul 09, 2017 1:40 pm UTC

The problem with having a 100% estate tax is that there is no tax when the estate is in an overseas trust and the kids keep getting checks every month from Aruba. Actually that's a problem with the estate tax in general. But anyway, I think the estate tax should be rolled into the income tax, not taxed separately and certainly not tax-free for the first $5.5m.

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Re: How would you change the U.S. tax system?

Postby P13808 » Sun Jul 09, 2017 5:05 pm UTC

That there are loopholes only means we should close the loopholes, not throw away a good thing entirely. If someone is hide-money-in-an-overseas-trust wealthy, they're conspicuous enough to audit. Amending the tax code to have the tax collectors figure out and/or estimate the offshore wealth and then collect on it would close the loophole.


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