Memo To Musk And Ramaswamy's DOGE: Go For The Flat Tax
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Web3 Infinity has exceeded all my expectations. The team's transparency and progress are remarkable. Secure your spot in the presale and be part of this amazing project!
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Did you say Dodge?😅😅imagine the irony
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Excellent idea! The lowest earning people end up paying the majority of tax revenue and the wealthy have their tax bill shrunk.
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Still not a good tax code for working class people. Georgism is the answer if you want an inherently fair system that doesn't penalize citizens for their hard work to replace the income tax system we currently use.
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Seems awfully regressive.
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Changing from our graduated income tax rates to a fixed rate on all incomes would drastically increase the net taxes on the poor and decrease the net taxes on the rich.
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Flat tax is the WORST idea in the history of taxation. It is the most discriminatory. Massively favors the rich.
A graduated tax is the only way to tax fairly. Why? Because the richer a person is the more options they have which are not available to those in lower income brackets. The only possible way to make a flat tax work is to exclude the first $100k from taxation. -
The Consumption tax(whatever you buy is taxed) along with a flat tax modified based on amount of money you make could work. Flat tax would be higher for higher incomes, lower for lower incomes, then zero below a minimum income. Remove all tax loop holes for individuals and coroporations……..no cooking of the books which large corp's do to show less profit, therefore pay less taxes. IRS agents would focus on the wealthy who cook their books. No taxes on social security, retired persons, no death taxes.
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Deductions and credits need examination. However not "one" rate but three rates 10, 20, 30.
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Anybody over 75yo would not be required to file a tax return. If – they did not have investments or businesses. Nobody over 75 yo should be filling out a tax return.
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There certainly seems to be massive waste at the federal level….Doge will be great for USA…just hoping that change can also happen at the local level as well
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Love it—let's do it now.
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The self-governing aspect of Web3 Infinity sets it apart from other tokens. Innovation at its finest!
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What gives you the impression that it's impossible? Are you familiar with Web3 Infinity? The cost of this will increase dramatically 🚀🚀.
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Yes, we have already missed the deadline for those coins, but luckily, there are still other possibilities available, such as Web3 Infinity.
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Web3 Infinity is set to explode – be part of the revolution! 🚀
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The self-governing element of Web3 Infinity makes it unique from other tokens. Innovation at its greatest!
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Web3 Infinity has exceeded all my expectations. The team's transparency and progress are remarkable. Secure your spot in the presale and be part of this amazing project!
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What gives you the impression that it's impossible? Are you familiar with Web3 Infinity? The cost of this will increase dramatically 🚀🚀.
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Yes, we have already missed the deadline for those coins, but luckily, there are still other possibilities available, such as Web3 Infinity.
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The self-governing structure of Web3 Infinity is extraordinary. It is a sign with independence.
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I've been following up with Web3 Infinity for a while, and I must say that I'm delighted with its novel approach to governance. Future events are thrilling!
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100% makes sense to me. ✅.
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Great idea, for the rich
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Steve, I am 100% in your corner. Only difference is I would want a 15% flat tax. Nothing further!!!! Please do whatever you can to get into the minds at DOGE.
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Flat tax is the way to go
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Since the majority of the billionaires are paid in stock, and borrow against them to pay for every day living, they still earn and pay nothing. Next idea please.
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Yes! Please
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FDIC WARNING! Last March when Silicon Valley Bank failed, the FDIC completely covered 100’s of MILLIONS of dollars of Uninsured deposits ( including Oprahs money).On Oct 18th when The First National Bank of Lindsay Oklahoma failed with only 7 Million dollars in Uninsured deposits, The FDIC is only paying out 50%.
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I tell my kids don't day the word
PISSEDI'M PISSED OFF!
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Agree with this for all citizens, maybe you can leave the business taxes alone for a year…
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The real question is why not go to a flat rate and make adjustments from there?
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Sure it will benefit you and your buddies
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They don't work for anyone. There's no agency. Just social medua posta
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Billionaires want a flat tax imagine that….. 👎
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AMEN STEVE
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DOGE !!! GO FOR SIMPLIFIED TAX !!!
IT MUST BE DONE !!!
WE, TAXPAYERS, BEGGING YOU !!! MORE !!! WE DEMANDING IT !!!
🔥🔥🔥🔥🔥🔥🔥🔥 -
Flat tax doesn't work, though simplifying the tax code is important. Tax brackets should be in place because someone making $1 million pays the same percentage of tax as someone making $100,000. While $1 million technically provides more money in taxes, the person earning $100,000 spends the majority of their income on basic needs. In contrast, the $1 million earner spends roughly the same on essentials unless they choose luxury or premium options.
For example, $50,000 for a family of four is very low. However, if expenses are considered before taxes, the system could be fairer. A family of four making $300,000 in a suburban area with a mortgage, two car loans, school expenses, and groceries often ends up with zero discretionary income after paying all types of taxes and meeting necessary expenses. They may barely make ends meet.
The tax system should focus on improving lives by:
Putting more money into the hands of families with lower or zero income after spending on basic needs to live.
Calculating taxes after deducting expenditures for essentials like primary residence payments, car loans for adults, groceries, and utilities.
Ensuring that luxury expenditures, such as investment properties, are not part of deductible expenses.
Treating investments or savings over $50,000 as taxable, not as essential expenditures.Additionally, introducing a Value-Added Tax (VAT) of 15% on luxury goods could work. For example, if someone flies business class, they would pay 15% more in taxes, ensuring higher contributions from wealthier individuals who spend on luxury. Encouraging spending by introducing expenditure-based tax deductions would help stimulate the economy and improve overall living standards.
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At least we could measure our extortion more easily
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LOL! Steve calling for a tax that places the tax burden inequitably on those making less and needing every penny to keep above water. As for his starting point of $53K, that's the lower level entrypoint of today's middle class, i.e., those struggling to purchase their first home and new cars.
It's a great plan for the rich and corporations though!
If we were to move to a flat tax for humans, the only way to support government expenditures and pay down Trump's debt would be to increase individual taxes (for those making more than $5M) and corporate taxes to pre-1970 levels.
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No. Income tax needs to be MORE progressive, and tax estimation should be calculated at the government level, not by private enterprises that want the tax code to be as complicated as possible to pad their pockets. The cost of tax preparation is a symptom, not a cause. A flat tax will not help with the pre-existing income and wealth inequalities that have poisoned our legislative processes for the last several decades.
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This is all such gaslighting to benefit the wealthy, such as this guy… “spend more on philanthropy”… YOU HAVE TO BE JOKING!!! “Philanthropy” is a way of the rich using their wealth to influence more people into believing this nonsense. 🤦🏻♀️
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Im all in for a national sales tax. Penny on the dollar
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17% is still to much, we need to remember the states also tax us at 15% time you add in the total state taxes and federal, it would be over 30%. My idea is a sales tax of 4% and a tariff of 5% on outgoing products and 10% on incoming products plus what ever amount the source country tariffs out products. I call it 4510 tax proposal.
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