Just implement a true progressive income tax

[Hyperion]

Progressive income taxes are here to stay since they provide the most efficient use of tax collection. Unlike flat taxes which hurt the poor and middle-class disproportionately, progressive taxes don't penalize any one demographic. If you're in a wealthier bracket, you're still making more money than someone else in a smaller bracket. Income taxes - unlike corporate and payroll taxes - don't impact economic growth much outside of spending.

Unfortunately, credits, deductions, and exemptions just destroy this purpose. The income tax brackets should effectively be reduced and expanded. By that I mean all current rates could probably be reduced by half and additional brackets could be made for those earning over $1 million and $5 million a year.

But no credits for having kids. No personal exemption. No mortgage-interest deduction or school tuition deduction. No "head of household" or "married" brackets, either. Tax people as individuals.

Let people see what they're actually paying.

[The Dude]

All we really need to do is

1. cap deductions for higher brackets

2. create new higher brackets

3. tie capital gains and dividends to income after say $500k income earners

That would be enough to get the progressiveness to a reasonable level since there's no way we're completely re-doing the entire code.

[Stratego]

What we need is a continuous progressive tax rather than a step system. Every dollar you make is taxed differently.

[John Galt]

[Ameriman]

What we need is to stop spending like drunken sailors. 40% taxation is simply ridiculous...

[John Galt]

i prefer higher taxes to continuously spending more money than we have

effing boomers

[The Dude]

[Winchester]

[Mathurin]

[Gremlin]

Unfortunately in all vertically integrated economies dictated by the plutocrats and its violent arms in government, we the people dont get a say on taxation, even in an election year. All provided choices from the red or blue ties lead to the same conclusions that we the people are to pay while the owners of the system continue to remove themselves from the debate.

The masses are always to be pitched/sold on squeezing the incomes to fund services/programs/defense for other people. For example the new tax deal squeezes the "income rich" but not the "asset rich". The people going out to eat and buying cars and boats are punished, but the people/corps that deem the direction of markets and economy threw the government continue to suck those very tax dollars while at the same time avoiding taxation all together.

When the reality of how things work is in the equation of the debate then maybe there will be some sort of progress in the tax debate. Until then please dont advocate the coercion of others in attempt to address the revenue stream for the government.