General Discussion

Dave says

(5,442 posts)

25. It's essentially a flat tax

Mon Mar 9, 2026, 09:51 PM

Mar 9

Let’s say the flat tax rate is 20% (I read some time back that at least 17% would be needed to match revenues, but it was without a $75k deductible).

So, the tax on a single taxpayer earning $100k would be $5000, or 5% of earnings. A taxpayer making $100,000,000 would pay $4,996,250, or 4.996% of earnings. Essentially we’re looking at a flat tax, not progressive in any meaningful sense. Quite a lot less than rich earned income is taxed now (it would be a bonanza of a tax break).

However, I might come on board if capital gains are treated like earned income, and if all the loopholes available to the very rich were closed. Plus eliminate the upper limit for social security tax. It might be better than what we have now.

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Booker Pushes Bill to Make $75,000 in Income Tax Free [View all] applegrove Mar 9 OP

No. Just no n/t leftstreet Mar 9 #1

Why not? moose65 Mar 9 #6

How about an explanation of your "no". Not real useful otherwise NoRethugFriends Mar 9 #9

Tax higher incomes, slash pork spending leftstreet Mar 9 #18

I don't know what neighborhood you live in.... SergeStorms Mar 9 #20

That's not the effective rate for most leftstreet Mar 9 #21

Yes please! at140 Mar 9 #2

Squirrel! 50 Shades Of Blue Mar 9 #3

Or to raise, or eliminate, the cap on Social Security displacedvermoter Mar 9 #5

This instead. Ferrets are Cool Mar 9 #13

THIS!☝️👆🖕 RainCaster Mar 9 #30

Yes! Johnny2X2X Mar 9 #4

No. No flat taxes moose65 Mar 9 #8

No. Flat taxes are regressive NoRethugFriends Mar 9 #10

It could be the trade off Johnny2X2X Mar 9 #12

Why should somebody at 100,000 pay same rate as 1,000,000,000 NoRethugFriends Mar 9 #15

They wouldn't Johnny2X2X Mar 9 #16

It's essentially a flat tax Dave says Mar 9 #25

Where the heck you getting your calculator? Johnny2X2X Mar 9 #26

Oops! Dave says Mar 9 #28

It's not perfect. Johnny2X2X Mar 9 #29

I think they are trying to put things in place to counter AI. Basic income will be next. They will need billionaires Pisces Mar 9 #7

"the proposal, which is guaranteed to be expensive, doesn't yet have a cost estimate" muriel_volestrangler Mar 9 #11

Head of household generally means a single person with dependant household members resident at least 6 months if adult. haele Mar 9 #22

This message was self-deleted by its author PeaceWave Mar 9 #14

Stupid idea, rather than lower taxes we cut spending, specifically on the military. indusurb Mar 9 #17

I'd rather actual tax policy that eliminates the cap on SS, raises taxes on wealthy and makes Nanjeanne Mar 9 #19

Louder for the folks in the back... nt EarthFirst Mar 9 #23

But what about the poor billionaires? Yo_Mama_Been_Loggin Mar 9 #24

It'll go nowhere. Just look at the liberals here. DJ Synikus Makisimus Mar 9 #27