How about a middle ground? Cut federal income taxes by at least 50% and distribute the difference by adjusting tariffs, excise taxes, and corporate taxes. I guess what I'm getting at is the following: What is an ideal tax solution in your eyes? The more successful one is, the more we punish you with taxes?
Im more into things that keep the money moving in the economy. Not having a small amount of people hoarding things (including cash). A poor person is already putting all their money back into the economy.
A mega rich is off shoring and doing all sorts of bullshit to park money or buy assets that just sit there and do nothing.
So ideally you’d have mechanisms that would promote rich people and especially corporations from spending their money constructively. Like if you do a stock buy back you get taxed a lot. If you increase wages and build more factories and create more jobs then those would be business expenses and you could write them off against your profit.
I think every American should have the right to own 2-3 houses properties. After that type gotta start jacking up the taxes so
You don’t wind up with corporations owning thousands of single family homes. Shit like that. Idk. What do you think?
Also to add we are in this like FICA Goldilocks zone where we make just enough to get a big benefit from the FICA cap. But on the flip side you got social security that is on the brink and you got folks making millions who are just exempt After 160k or whatever. That’s crazy.
I’m not a huge fan of terrifs. Unless the other country is competing in bad faith. It’s just another tax on everyday Americans purchases which would effect poorer people
More. Its like. VAT in Europe. It makes everything so
Expensive.
To summarize I don’t care what you believe in for
Your dream tax scenario i just dont like when people say something as basic as a 10% flat tax is a tax cut for everyone because its not
I can’t believe you got me to write that much