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flat tax rate it Post Review

AZ taxes income based on federal Adjusted Gross Income (AGI). While there are many deductions, AGI generally includes interest, dividends, & capital gains. So flat tax proposal would significantly lower tax rate on those forms of income (as I understand it) for high earners.

Detroit, your fuckin tax system is cancer.

It's 2021 just give us a flat tax rate already

Even if offered a match I don’t know that I would take it anymore. I’d probably just throw everything into startups, crypto, dividend stocks. and real estate.

I agree with you but a Roth is different. We made sure have a Roth option in our 401k for our company so we’ve been maxing that out. I basically think of it like a taxable account with a 10% flat tax rate. 10% being the early withdrawal fee when we need it before retirement age.

why is it necessary/desirable that everyone is incentivised to the same degree?

I think many people have intuition that it *is* desirable. I am wondering how optimal flat tax rate / fee should be chosen, given that income has powe law distribution.

No. I don’t know the Governor’s investment portfolio. He was a pretty savvy biz man and he made a large return on selling his multi-million dollar home. The flat tax is based on income. Not sure how law would affect investment income.

More waffling nonsense. Dump the current tax code and replace it with a #FlatTax.At ~18%: Working families get a small cut While corporations see a huge increase (i.e. - GE et al would no longer get tax rebates but an 18% tax bill, up about 21%!)

Steve Forbes ran for President on a 13% flat tax rate back in ‘96 and the GOP wanted nothing to do with it because virtually every corporation and all the top 10% earners were paying even that if less than half that amount. There would have been no deductions and no deficit.