Tax the rate of pay, rather than total income

HADRIAN ION on November 4, 2020 at 4:57 pm

Idea: Tax the rate of pay, rather than total income

Link: https://www.youtube.com/watch?v=43ZK1R-jqA...

But wouldn’t business owners just pay themselves a low rate to dodge tax? It may create more loopholes than already exist. Don’t think it could work.

Mike on November 4, 2020 at 5:54 am

Idea: Tax the rate of pay, rather than total income

Link: https://money.howstuffworks.com/personal-f...

Consumption tax is what they are calling sales tax now, sounds better right?

Could income tax be replaced by a consumption-based sales tax?

Sometimes called the Fair Tax, a consumption-based tax is often touted as the answer to the country's tax problems. But could it work?

RudeJude on November 4, 2020 at 2:51 am

Idea: Tax the rate of pay, rather than total income

Link: https://www.theatlantic.com/business/archi...

Didn’t think of that, but the old idea of ditching income tax has its merits too. After all, it’s not a crime to make money, just to spend it.

The Best Fix for Our Tax System? Replace Income Taxes With Sales Taxes

It would mean less work, less cheating, and a lighter carbon footprint. It would even be an offshore-resistant job creator.

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