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Thoughts about a Progressive Tax Rehaul? (lemmy.ca)

submitted 1 month ago* (last edited 1 month ago) by thatonecoder@lemmy.ca to c/progressivepolitics@lemmy.world

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As the title goes. This would involve turning the tax levels / brackets into an exponential mathematical curve. One of the benefits off of the top of my head, is that people wouldn't be scared of their salary increasing just enough, to actually lower their clean income. Another one would be that you can lower even further the tax rate for middle / low class, because you (the government) would receive more from taxes. Any opinions/ideas for this?

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[–] HubertManne@moist.catsweat.com 1 points 1 month ago (1 children)

current system is graduated. You only pay additional tax on monies over the amount. so everyone pays the no tax on a certain amount then a small tax on another amount then higher then higher. If you are in the highest tax bracket you do not pay that percentage on all the money you make only on money above that highes bracket. the real problem is our bracket is just after cresting 100k or so for individuals and there are no further brackets for like millions or such.

[–] thatonecoder@lemmy.ca 0 points 1 month ago (1 children)

Yeah. I personally think that a mathematical curve would address that.