Thursday, September 19, 2013

on logarithmically increasing tax rates

Donkeylicious: Tax Brackets As Far As The Eye Can See:

 "A friend of mine in the finance industry suggested letting tax rates grow logarithmically. Subtract out the first $20,000 of income. Then, as your income increases as a multiple of 10, your tax rate increases by 21% on any income in excess of $20,000. So, someone earning $120,000 would owe $21,000 in taxes (21% of $100K); someone earning $1,020,000 would owe $420,000, (42% of $1 million) and so on. Taxes on the working poor and middle class would go down or stay flat; taxes on the upper-middle class would go up slightly; and taxes on the various levels of "f***ing loaded" would rise subtantially."
'via Blog this'

an interesting idea

No comments:

Post a Comment

Not moderated but I do delete spam and I would rather that people not act like assholes.