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.

Yeah my main quibble comes from a lack of accounting for that period in American history where folks could stack unlimited generational wealth and assets (eg gilded age) 

Never gonna happen but would love folks to be able to select two years where they can opt out of paying any income/capital gains taxes to allow them to accumulate a base of some means

Not a 1:1 match with gilded age titans but would negate the steep slope to accumulating meaningful wealth that the progressive approach to taxation creates