I often daydream of uncooking an omelet. I have yet to accomplish it. ![]()
I rarely if ever voice my views on taxation, as it’s one area where I part ways with most liberals and in fact with most people. While I understand and to a certain extent believe in the idea of using taxation to encourage growth and discourage socially damaging behavior, I believe our byzantine tax regime has been the chief enabler of tax evasion by the rich and corporations. Based on a family of four, I would like to see the Federal poverty level raised from $24,300 to $35K, only income after the first $35K taxable, a progressive tax from $35K to $70K, and a flat tax on all personal income above that. Similar structure for corporate tax as long as it keeps its incorporation within US borders, flat above a certain level to facilitate initial growth of new companies. Flat all the way for all multinationals operating in the US. No corporate deductions whatsoever. Personal deductions limited to children and legal wards only, and maybe charitable donations to charities that meet stringent transparency and review requirements. That’s it. And I want States funded solely on property, sales, consumption and environmental cost taxes.
As long as we’re daydreaming ![]()