SiginalManKenneth, it’s politically and financially unfeasible to increase tax rates only for lower income brackets; it’s politically unfeasible to favor only higher income brackets with tax rate reductions.
To whatever’s the practical extent, I advocate shifting to a general sales tax rather than taxing net incomes. Sales taxes are not regressive or progressive but they’re deemed to be regressive in comparison to progressive income taxes.
By waiving taxes upon selected items that are a greater proportion of lower rather than higher income earners’ expenditures and waiving taxes upon capped price thresholds of selected items, (although the general sales tax has only a single tax rate) these waivers and caps effectively induce the tax to be somewhat more a progressive.
While any federal income taxes do exist, we should strive to decrease our income taxes’ inequities such as unjustified tax loop holes, waivers and exceptions that favor the few but increase the tax burden for all others;
We should annually cost of living adjust the amounts of per capita income tax considerations. Those considerations should be tax credits rather than reductions of taxable incomes which favor higher earning taxpayers.
Respectfully, Supposn
