Posted on 04/15/2014 7:28:17 AM PDT by IBD editorial writer
Everyone gets a person exemption that would be equal to the federal poverty level, and that's it.
Married, single, 10 dependents or none at all, everyone pays the same flat rate.
Your wife taking a part-time job wouldn't kick you into a higher bracket, her earnings would quite likely be tax free. She would also have that personal exemption up to poverty level, ditto for everyone else in the household.
Since the tax form would be the size of a postcard, each filling one out would be no big deal.
The working poor would have an incentive to earn more because every extra dime would only be taxed at a small percentage that everyone pays.
They wouldn't have to worry about bumping up their earnings and paying taxes on the total amount, that personal exemption would never go away.
This would be a lot smaller issue if the tax bite were itself smaller.
Ah, Farmer, you’re donating to the Won’s vacation fund. Doesn’t that give you a big whoopee feeling? At least that is better than making mischief in the White House.
“I hear the respirators are coming, the ones that tax breathing in the not too distant future. Frankly, that is the way I feel most days.”
There are cities/counties in America that tax people for rain run off based on the square foot areas of their roofs. I have heard of cities considering adding a tax on the square ft area of driveways and patios.
“The Brown Clown made 12 times what I made and was in the 20% tax bracket and I was in the 25%! Something stinks!”
If you mean the Golden Oreo, I had the same feeling after figuring out his tax rate on an income 4.5 times ours. Our tax rate was 25 % versus what you posted.
Here’s his full return!
http://www.whitehouse.gov/sites/default/files/image/2013_potus_tax_returns.pdf
Not bad for a community organizer and a golfing president.
Odd how that 40% number keeps popping up for everything pro government?.
There’s also people like myself, who feel that money I pay for government gets wasted.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.