Fmr. Gov. NickG
NickG
Junior Chimp
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Posts: 8,278
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Political Matrix E: -8.00, S: -3.49
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« on: August 28, 2005, 05:30:19 PM » |
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I'd have a single tax for income. No estate tax or payroll tax, Gifts and inheritances would also be taxed to the recipient as income, although if they were large I think they should be able to allocate the money over several years for tax purposes.
As for the rates, I would make it steeply progressive. Everyone making under $100K would pay about as much as they do now (minus payroll taxes), while tax brackets would increase from there so that people making >$10 million/year would pay about 90-95% of their income above this.
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