I’m of the opinion that people making less than 50,000 a year should only be paying like 5% in taxes and FICA/SS. And anyone under 150,000 taxed at 10%. Because the people making above that can afford to pay the typical 20% or more, but less than 150k is not all that much these days.
And then the mega-rich need to be paying way more than they do. Not just income tax, but capital gains tax and tax on the total value of their assets above 5 million (don’t @ me with this number, it’s an example) or whatever.
I’m of the opinion that people making less than 50,000 a year should only be paying like 5% in taxes and FICA/SS. And anyone under 150,000 taxed at 10%. Because the people making above that can afford to pay the typical 20% or more, but less than 150k is not all that much these days.
And then the mega-rich need to be paying way more than they do. Not just income tax, but capital gains tax and tax on the total value of their assets above 5 million (don’t @ me with this number, it’s an example) or whatever.