politics

The issue with flat taxes is that, while they apply the same rate to all income levels, their impact is often regressive. Lower-income individuals end up paying a larger share of their disposable income compared to higher-income individuals.

https://x.com/thecavedaddy/status/1900341472378896440?s=46

Our current tax system is progressive because we pay the same rate within each tax bracket. Only the portion of income that falls into a higher bracket is taxed at the higher rate, not the entire income.

Anyone who tells you it’s not fair either doesn’t understand taxes or is lying to you.

In my opinion, need to add a few more brackets with tax rates as high as 70%+ as you get into the $100M range.

Navigating the world of finance by day, pondering its flaws by night. ETH Maxi

Yes. It continues to rise as you make more. It’s not like we’re taxing your entire income at 70% which most people think and the rich want you to believe.