Message from @Dennafen
Discord ID: 476794730873749526
with Flat tax of like Rye said 35%
a person who makes
1,000,000
will pay 350,000 taxes
and a person who makes
10,000
will pay 3,500 in taxes
So rich still pay more
That's just 3 percent of a million dollars
There is a curve though when taxing people
besides, just scrap congress income a bit,
Not like those old farts are gonna need that money,
They don't use drugs, or hookers, or anything thats fun and costly, and will cause a scandal
So when they talk about taxing companies more
Does the curve stay the same at every level?
flat tax means everyone pays the same %
They're talking about amounts the size of employee salaries
If you're running a razor thin margin
And you get a 3 percent tax hike
Consumption Tax seems to make sense to me, but I don't know how well it would really work.
That's a man down
Easy
best part about a flat tax? no more tax brackets, except maybe at the bottom end.
I mean the laffer curve
dafuq is a Consumption tax?
I like brackets personally
I was using a flat tax as an example
if you make the bottom end of a tax bracket, you could be taking home less money than if you were in the higher end of the lower bracket
in other words, you end up making less money from a raise
that seems like a punishment to me
no
So, that 3 percent tax hike that equates to an entire employee's salary
not in progressive tax system
making more is always better
depends on the tax system
Is hitting across the board
Meaning less money in the econony
whatever the current system is, that is how it works
In the progressive tax system you make less from a raise the more money you make.
It sinks back into the system
if you pay 30% tax at 50,000 a year income
And 35% tax at 51,000 a year income
You're gonna lose out 😛
unless you are telling me that isn't what has happened to my family and friends from time to time.
That means sales will likely drop as well
@RyeNorth it depends on how much tax there is to begin with
I gave a very specific and realistic example
You only pay the increased tax on the income above the bracket.
There is a point where increases do become constrictive
Million dollar a year projected income