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Originally Posted by loquitur
Interesting set of principles, designed to retain progressivity while minimizing economic distortions and increase everyone's sense of civil obligation. The post is here.
I can almost predict who is going to say what about which parts of the package, but what the hell, let me toss this out and see what comes back. It struck me as notable mainly for focussing on what tax systems actually do rather than on what they are aimed at doing. I'm a homeowner who gives a fair amount of money to charity, so this plan will slam me, but I still think it's a pretty good concept. |
At a glance, this looks very reasonable. I've seen similar approaches, but I like focus on simplicity and balance.
On the other hand ... what would it take to gain approval and actually implement something like this without becoming hopelessly diluted? Convincing the public to accept the initial start-up losses and to trust restructuring many significant aspects of commerce and tax law is a battle in of it's self.
I like the idea, but I picture the kickers and screamers clinging tenaciously to deductions, tax shelters, and social welfare programs until the bitter end.