Question. What do you think the maximum tax rate ( all in /as a percentage of income -Fed- State local should be ? Even for 10 M per year?https://twitter.com/rsbe/status/897454414960762880 …
50%. There is a principle that the government should never get more than you do.
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there should be 6 basic "flat' national tax rates with virtually no deductions. 0-10-15-20-25 & 35% which only applies over 10M
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Why the desire to "flatten" the curve? Not just this approach, but any of them. A look up table is pretty simple (easier than math).
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Then again, I doubt you understand the role taxes play in a country that is a monetary sovereign.
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First: The dollars you use come from the only place they can come from: The federal government, which issues the $ u use to pay tax.
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Second: Currency users don't fund the currency issuer. The issuer funds the users.
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Third, primary role of taxes in a monetarily sovereign country is to regulate inflationary pressures by removing excess & from circulation
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Who do u suppose have potentially excess, inflationary, excess dollars?
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