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42 sats \ 1 reply \ @BlokchainB 28 Feb \ on: A Few Thoughts About Replacing the IRS with Excise Taxes and Tariffs econ
I can’t stand the income tax. It’s regressive and it hurts overall productivity. The fact the most skilled people of society (brain surgeon) get taxed at the highest rates (40 to 70% depending on state and local taxes) is cuckery to the max and people wonder why the best and the brightest go into banking and finance because of the tax structure.
The argument against this is that it hurts low income citizens. Paying for consumption on every day items like bread and apples rubs most politicians the wrong way and all of sudden want taxes to stay to stop the wealth inequality not realizing how the fed can grow a $9T balance sheet having done absolutely nothing to earn and buy $9T worth of anything!
If this tax can be rolled out and be regressive for human daily needs than I would be for it. But we both know that will never happen. The income tax is never going away
I didn't mention it in this post, but the proposal includes a rebate to account for exactly the concern you raised. It would be a household rebate that's based on number of people in the household and scaled to cover the taxes on basic necessities.
I'm not at all confident that it will never happen, but it certainly might not happen soon.
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