If flat tax would apply evenly to all sources, investment sales taxed at same rate as wages. No deductions. How would this not be fairer than the US current tax scheme?
No I do not think it’s fine. I did read what you said, but from your reply it’s obvious you didn’t read what I said.
I said if “apply evenly to all sources, investment sales taxed at same rate as wages” From your reply “billionaire takes money from capital gains (lower taxes)”. That’s not the same rate is it.
I said "No deductions."From your reply “so its use can be written off partially” That’s a deduction isn’t it.
The current system where rich pay a lower tax rate because they can take advantage of things like capital gains and deductions is not fair or equitable. A flat rate system that eliminated things like capital gains and deductions would not be fair, but it would be fairer because it keep the millionaire mfrom paying a lower rate than the poor (or the software engineer).
Graduated tax that eliminated things like capital gains and deductions would be fairer still. Also gift exemption, inheritance exemption and other carveouts that unduly favor the wealthy should at least be be adjusted if not outright eliminated.
Not advocating for flat tax, I’ve said flat tax not fair, we’re in agreement on that.
I stand by my statement that a flat tax scheme applied evenly to all sources of income with no deductions to shield income, is fairer than the current scheme. Your arguments that flat tax scheme is unfair are all true but do not repudiate that statement.
I say it again, fairer than the current scheme. Don’t tell me not fair, I agree. Tell me how everyone paying the same rate would not be fairer than the current scheme where wealthy are able to pay a lower rate. Again, fairer than, not fair.
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cross-posted from: lemmy.world/post/10458716...