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04-29-2023, 08:23 PM
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Sage
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Join Date: Mar 2015
Location: The Villages
Posts: 13,722
Thanks: 1,396
Thanked 14,810 Times in 4,916 Posts
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Quote:
Originally Posted by OrangeBlossomBaby
10% is fine too. Make all the uber wealthy - that other 10% of taxpayers, take the standard deduction, and pay 10%.
Good luck convincing anyone to pass THAT through senate and congress though. The top 5% of wealth in this country itemize enough that their tax obligation is much less than 10%, and some of them pay nothing at all in taxes.
So sure - bring it on. 10% tax, with standard deduction ONLY, no more itemizing at all, for everyone.
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Again, statistics from the IRS--- THE TOP 1% OF ALL EARNERS PAY 40% OF ALL INCOME TAXES.
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