Replacing the Income Tax With the Flat Tax

Did you know that 43.4% of the US do not pay income tax? (McCullagh 1) This is about 65.6 million tax-free people, breaking through the economy and the country. In the United States, we need to consider taxes that are more fair for the people and easier to manage by the government. Increase revenue and create employment opportunities.

A single tax will terminate the inherent inequality, complexity, government micro management and economic loss caused by the current income tax system. By replacing the current income tax system with a unified tax, we can promote economic growth and opportunity expansion while providing high standard of living for all Americans. It is a question. Our current tax system is unfair and we often charge different tax liabilities for people with the same income. For example, higher tax is imposed on senior citizens with social security income. In the tax law, certain people are only allowed to use special tax loopholes or tax incentives, but others are forced to pay higher taxes.

A fixed tax (abbreviation for flat rate tax) is a tax system with a certain marginal tax rate, which is usually applied to individual or company income. True single tax is proportional tax, but depending on tax base deduction or exemption, introduction is often done in phases, and in some cases it will be reduced. Even though they are very different, there are various tax systems marked as "single tax". If deduction is allowed, "single tax" is progressive tax, and if it exceeds the maximum deduction amount, the marginal tax rate of all subsequent income will be constant. It is said that this tax is a little over this point. Recognizing that both taxes are equal to taxable income since the difference between a true single tax and a slightly flat tax excludes certain types of income from the latter being simply defined as taxable income You can adjust by doing.

Bond tax is a tax system corresponding to the marginal tax rate of tax revenue (tax rate per dollar). A true single tax is a proportional tax (all pay the same tax), but in practice the implementation is usually moderate (more income, more payment), in some cases a recession (more income, Depending on deduction, exemption, and general vulnerability, the amount paid will be less.Pure proportional tax is called "true single tax" and the other is called "modified single tax." Progressive Income Tax Is a tax that increases as tax rates increase with taxable income The term "progressive" changes from a low to a high tax rate so that the average tax rate of the taxpayer is lower than the personal marginal tax rate To reduce tax burden on people with low paying ability, introduce gradual taxes to improve payment capacity