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Old 09-21-2010, 05:19 PM   #43 (permalink)
Charlatan
Getting it.
 
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Location: Lion City
Flat taxes, as much as they appear to be, are not fair taxes.

A progressive tax is much fairer. The one we pay here looks like this. The tax form I fill out is one page long. There are very (very!) few deductions that can be made.


On the first.....$20,000.....0%.........$0
On the next.....$10,000.....3.5%.....$350
On the first.....$30,000..................$350
On the next.....$10,000.....5.5%.....$550
On the first.....$40,000..................$900
On the next.....$40,000.....8.5%.....$3,400
On the first.....$80,000..................$4,300
On the next.....$80,000.....14%......$11,200
On the first.....$160,000................$15,500
On the next.....$160,000.....17%....$27,200
On the first.....$320,000................$42,700
Above............$320,000.....20%

Yes, those who make more pay more. Amazingly, this country runs a surplus and has no debt. It's GDP is also tiny compared to the US and has a high percentage of military spending as part of it's GDP. It's still apples and oranges but there it is...
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