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Oh my sweet summer child…
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Oh my sweet summer child…
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How would you actually tax the ultra wealthy?
Set up a flat tax to close to 40%.
Can be paired with an automatic credit for around half of the poverty line.
Tax=(income × 0.40) - (poverty / 2)
The poor people get a negative income tax, while the people who earn more pay more.
No capital gains or any other loophole.
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Question for people who smoke cigars: how do you cut torpedo cigars?
A good old Gem works
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How would you actually tax the ultra wealthy?
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Easier to sell a simple formula in congress than table brackets