(May 4, 2017 at 3:02 pm)Chad32 Wrote: No. Not that I know much about taxes. It might actually be a stupid idea, but I don't see much point in taking money from people who don't have much to start with. Go where most of the money is for taxes, which is the rich people.
We do this already, in the form of standard deductions and personal exemptions. Lower income people with earned income are also entitled to collect the Earned Income Tax Credit, which can be substantial. There's also the Child Tax Credit, which phases out for higher incomes.
Something like 40% of Americans pay no federal income taxes, or receive a subsidy in the form of the above credits.
