(May 15, 2014 at 12:38 am)Cthulhu Dreaming Wrote: 17% is probably substantially more than what their tax liability is now, which is why I asked (I make quite a bit more than the 75K figure in your example, and I assure you my net federal income tax rate is below 17% by a fair margin - and further, I can assure you that a significant change in my tax rate and bottom line would result in some very hard choices).
Lets say kids under 18 get a $10,000 exemption. A family of 4 with an annual income of $75,000 would pay $2500 dollars in taxes....or an effective rate of 3.5%.
This system eliminates social security so families would no longer be paying those payroll taxes which are currently 6.2%. Your total tax burden could be even smaller under such a system. I think it would be for most.
You are right, these are just numbers that I am pulling out of my ass. I don't know if these numbers would generate comparable governmental revenues. The point of this thread is not propose a plan you can vote on, but to show people there are alternatives which take care of people, don't restrict individual freedom, don't involve big expensive government, and don't involve governmental monkeying with the labor markets(which always leads to winners at the expense of losers).
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