We all know think income tax sucks. Not only does paying this tax suck, it’s a pain in the ass to figure out. Maybe if you have a great accountant it’s easy. But at the point where you can afford that accountant, you need them to hide money and create write offs because you are doing pretty good for yourself.
What if, like many other places, we got rid of the income tax system, and replaced it with a flat rate system? I’d like to see about a 15% to 20% tax rate, flat. No deductions. You earn, you pay. End of story. Sure, there will need to be some adjustments perhaps. Some only I’d like. Like 2% reduction if you live 10 km outside city centers with a population over ….. say 250,ooo maybe.
But what your tax department do then? Payroll. For everyone. What a bonus to employers, saves them money for sure. Look, government controls us without telling us what their doing, I’m just making it up front. And I’d like to trust a system I elect. This doesn’t mean the feds are cutting checks, the money still comes from the employer, but the check is issued from the gov.
The more you make, the more you pay. Tax break incentives become cash in hand.