A Flattened Income Tax

Einstein once said that "income tax is the most difficult to understand in the world." Taxes are designed to cover expenses related to the administration of the government (Brough 1). In order for the government to function properly, some form of taxation is required (Bartlett 49). Nonetheless, taxation methods and tax collection methods vary. One type of tax is personal income, which includes taxation on income (Burman 21). The current US income tax system is progressive tax (Duby 1).

US taxes should be gradual and effective. Today they are neither - or at least not satisfactory. We reduced the progressive income tax of the past considerably. The social security contribution limits to a low level that is decreasing. As economists say, taxation on companies is unequal and unfair. We have one of the most complicated tax laws in the world. However, many of these problems are directly related to Congressional corruption. The rich are the most important contributors to the political movement. This led to arms race among politicians to keep the tax rate low. US companies face high nominal tax rates, but once all exceptions and deductions are considered, it is one of the lowest tax rates in the world. These exceptions and deductions are opportunities for Congressmen to raise funds. In general, the complexity of taxation also applies. All vulnerabilities are donation opportunities

In his book "Capitalism and freedom" published in 1962, the negative income tax (NIT) proposed by Milton Friedman is a single tax. The basic idea is the same as a single tax deducted by an individual, but if income exceeds income taxable income is permitted to be negative instead of being set to zero. Then apply a uniform tax rate to the resulting "negative income". It brings "negative income tax" to be borne by the family by the government - unlike regular 'positive' income tax, the family owes the government

In addition to UBI, another option is Milton Friedman, a Nobel laureate economist. Under the existing tax law, we operate an active income tax that one household is taxed with a gradual income tax system that exceeds certain criteria. Under the negative income tax system, those with incomes below the critical point will receive a certain percentage difference from the government. Technologies such as block chains have provided an unprecedented opportunity to test decisions on distributed resource allocation. Use the distributed ledger system to ensure that funds are only allocated to those who have completed productive work, as determined by changes in conditions or priorities monitored by the artificial intelligence engine