Subject: Tax Code Makeover Comment: zero tax for earning minimum wage or less 5% for minimum wage to 35k(sin.)/70K(mar.) 10% for (sin.35-100K) (mar. 70-200K) 15% for >100k single & >200k married Only deduction for charity. Balance of tax revenue to be made up by VAT tax. This way every one pays someting and we don't discourage the wealthy from making more and the poor aren't being taxed to death. VAT revenue and levels of % taxed can be change depending on government over or short revenues. |