Watch this thing here, then ask what We should do. There have been multiple commentaries on my own specifics of potential Tax changes, and some have asked for the simplest Plan for Taxes which can be imagined. There are also stipulations most of the time for Tax plans which could possibly find passage. My irreverent Thought pattern suggests there is no possibility of Tax change unless the Wealth make Money from it. Still, we cannot let such an assessment inhibit Us in our quest for something better than this raft of S**t!
The first Step is to account all federal taxes, except Excise taxes, to be Tax payments. The second Step is to find the lowest Taxation demanded on the first $20,000 (I would have suggested $10k except then the Tax would equal 0). One cannot tell where legislators would set the Tax level at this point, but hopefully between $700 to $2300. We state for third Step that all Taxes are to be considered within the $20k segments, with Incomes falling within a segment following the first segment paying a percentage of tax equal to the percentage of Income earned within the segment. We stride forth and acclaim that Everyone must pay the same Income tax on every $20k segment, no matter what their Income happens to be. We slip in a few Odds and Ends, like doing away with all Tax breaks, Exemptions, and Deductions–this makes it a straight Tax. We study on the Issue somewhat, and state firmly that WE can see no difference in Income between Personal Income, Capital Gains, Corporate Income, Business Income, Partnership Income, or even Inheritance Income; it all seems to spend the same, be invested the same, etc. ad infinitum. Remember that this is no Straight Tax, but a modified Straight Tax–because not Tax Breaks, Deductions, or Exemptions are allowed. It is simply the least amount which legislators can seem to agree on at any given Moment.
Did I mention about the tax on Patent Rights and Royalties? I would allow these to remain low, but on second thought, I think not! None ever seems to wind up in my bank account anyway. Here We have the simplest Tax Plan: no favoritism possible, and Everyone after the least amount possible in tax payment. The Plan will not only generate Curses, but tax revenues. No one will be able to claim bias–except possible against me! lgl