Reply #4: 999 more like 666! [View All]

this flat tax is a good idea in that there are NO DEDUCTIONS, and there shouldn't be any! Deductions seem to arise from political promises made during elections i.e. they are pay-offs to what ever constituency they are promised to. This just over complicates the tax form,. (I was working in a crappy job once, and when tax time rolled around a couple of the kids working there actually thought the ONLY way to do taxes was to take them to H&R Block a private company that files them for people after taking a huge percentage,. the form should be dead simple!)

The dumb ass part of this 999 scheme is that all income levels pay the same amount?! That is no good. There still needs to be a progressive system, to apply some limits to aggressive wealth taking.

In my mind the simpler the better;
income - percent taxed.

< 20k - 0%
20k to 100k - 10%
100k to 500k - 25%
500k to 5 million - 50%
> 5 million - 90%

or some such progression. and this applies to all income,. including and especially capital gains!!

If income is a representation of ones contribution to the world as it should,. then there is no conceivable way that anyone (as a single individual) can "contribute" much over a million dollars worth of improvement/productivity/ideas in a year,. even that seems high. Limits obviously need to be set, however I believe more will change when we begin to change our culture of wealth worshipping,. great wealth should be looked on with disgust not reverence.

Remember when you take you take away from everyone else. We live on a finite planet with limited resources.