I think taxes should be no more than 10% of my income based on how much i make. But for people who make more than I do it should be 50-80% and the proceeds from the tax revenue should go towards looking after those who don't produce as much tax revenue for the state. This threshhold for being subjected to taxes at 50-80% should ofcourse change overtime to ensure im never subjected to these taxes myself.

What do our resident pardians think would make for a fair tax policy?

Bring back the 94% tax rate from the 40s. 'Billionaires' shouldn't be a thing.

No income tax period. Transactional taxes, and property taxes on lots over 1 acre, or zoned for business.

Income tax is cancer. If businesses were taxed like people are taxed, there'd be no more business. Imagine if you could write off your overhead the way business does: "Let's see, I pay $14,000/year in rent, $1500/year in utilities, $5000/year in food, $5000/year in transportation, $8,000/year in healthcare and/or insurance costs. So that's... $32,500/year overhead. Joint income is $50,000. So... Oh! I forgot. I also invested $7500 into upgrading and remodeling the house, car, etc. So total overhead+improvements = $40,000. So taxable income is $10,000. Here's your $1000 for the 10%."

remove child tax credits for households with a stay at home parent, yeah i said it.

Progressive tax system increasing by 5% starting at the bottom 25th percentile and increasing every 10%.

So if the bottom 25th percentile of earners for the previous year made 25k, you would pay 0% on your first 25k. If the 35th percentile earners made 50k, you would pay 10% on your next 25k. On and up until you get to the 95th percentile which would pay 70%.

Also individual capital gains just gets reported as income and applies the same taxes.



Why?

This post was edited by Thor123422 on Mar 10 2021 01:32pm

Why not?

Why not? Child tax credits should be helping to alleviate the costs of things like daycare, not providing profit for not working.



Because society can't gain equity by building up the lowest denominator. Instead, you need to tear down the successful. If we all live in the dirt, we're all equal. NN success.

This post was edited by InsaneBobb on Mar 10 2021 01:37pm

Whether its by paying for daycare or by foregoing income to stay home its the same result.

False. The income gained and the productivity and gains of society by both parents working is much higher than only one parent working.

One daycare worker can oversee 20-30 children and help to fast track their education. One parent being paid by the government to stay home to babysit their own 2 children produces nothing but a deficit, societally. And from a personal responsibility perspective, that stay at home parent CHOSE to have THEIR children. The child is THEIR responsibility. Why should the fruits of MY labor be stolen from me to provide for THEM when they are helping nobody but themselves?

Child tax credits to parents where the parent(s) are working full time incentivizes a more productive economy. Child tax credits to stay at home parents incentivizes people not to produce anything for society at all. Why should a person who's not paying taxes gain credit for doing so?

This post was edited by InsaneBobb on Mar 10 2021 01:42pm

It is unethical to hoard wealth in a society that gatekeeps well-being behind financial barriers. It's a shame upon our society that hoarding wealth is glorified and something which many people aspire to. There is no reality in which someone can become a billionaire without undue suffering and exploitation.