Ignoring for the moment that neither alternative is as politically easy to accomplish as a living wage bill (which itself ain't easy).
1. Let's see a realistic example. A 50% tax over 25k is ludicrous, and changing either number would substantially alter how palatable such an scheme would be - as would making the rate progressive. As it stands, it looks very ad hoc. Would you do away with deductions and exemptions? How is unearned income treated? Business income? How are capital gains treated? What consequences do you anticipate?
2. Where's the money coming from? Is the tax code otherwise the same as it is today or something else? Really, the same questions in 1) apply here too.
1. Let's see a realistic example. A 50% tax over 25k is ludicrous, and changing either number would substantially alter how palatable such an scheme would be - as would making the rate progressive. As it stands, it looks very ad hoc. Would you do away with deductions and exemptions? How is unearned income treated? Business income? How are capital gains treated? What consequences do you anticipate?
2. Where's the money coming from? Is the tax code otherwise the same as it is today or something else? Really, the same questions in 1) apply here too.
