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PT6A posted:I think a flat tax is a bad idea, but I also don't understand why we (the US and Canada both) use tax brackets instead of a perfectly simply continuously variable tax rate based on income. The current system is so open to misunderstanding with regards to the irrational fear of being bumped into the next tax bracket, and now that everyone has access to at least a calculator, I don't see much of a reason to use a bracketed system instead of a system where the tax paid on income is a smooth function of taxable income. The bracket system accounts for the amount of income you need to live on. You should pay less tax on your 'first' $40k of the year than on each additional 40k of income
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Sep 27, 2015 13:54
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RBC posted:yes clearly a logarithmic tax system is going to be easier for the laymen to understand - an idiot This illustrates it quite nicely http://www.datapointed.net/2010/04/historical-us-income-tax-brackets/ Unsurprisingly you don't get this kind of information from newspapers, TV, or primary school.
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Sep 27, 2015 16:06
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We should bring back the 0% rate for the first $10,000 of income
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Sep 27, 2015 16:12
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Top City Homo posted:translate this paragraph for us idiots 'Instead of helping people understand progressive income tax brackets we should make the system what they think it is'
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Sep 27, 2015 23:59
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Full Battle Rattle posted:"discourages investment" This is ultimately silly - that is like saying income brackets discourage people from seeking a higher-paying job (of course for low-information capitalist purposes this does happen to get people to accept their place and sympathize with their bosses). mdm posted:traders can fart money at each other anywhere in the world This is the real problem - the global 1% can avoid lots of taxes unless something is done internationally. IMO they should keep some tariffs with free trade 'zones' but have the revenue from them be a fund for all members of the treaty organization (NAFTA, TPP, etc).
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Oct 21, 2015 00:43
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lampey posted:Doesn't the US require information of foreign assets, and foreign banks largely provide this? A major republican platform is to defund and disband the IRS. If you don't have the resources to confirm reported income how can you enforce the law? The IRS probably have lots of legacy IT databases for payrolls and bank statements and those kinds of things - but if you're putting assets overseas you can do all kinds of things to make it not worth the effort to go after - like going to different currencies / commodities / etc. Our economic culture is insanely paranoid - which is why employers should be publishing wage schedules - break the taboo of talking about compensation openly. By taxing trade within a zone - and putting that revenue into a common fund that member nations can draw from - you have a global system of taxation that affects both consumers and producers. If you start allowing free travel for individuals you might see a healthier geographic distribution of manufacturing/mining/administration/green areas.
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Oct 21, 2015 02:23
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