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Author Topic: The One Sentence Tax Code Challenge  (Read 5439 times)

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Offline Dan

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Re: The One Sentence Tax Code Challenge
« Reply #15 on: January 24, 2012, 02:50:44 pm »
"From each according to his abilities, to each according to his needs."
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Offline sandman

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Re: The One Sentence Tax Code Challenge
« Reply #16 on: January 24, 2012, 02:58:18 pm »
COMMIE!
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shykid

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Re: The One Sentence Tax Code Challenge
« Reply #17 on: January 24, 2012, 04:59:59 pm »
All income 2.5x above living wage (legitimate living wage, not the American government's idea of living wage) and all cash assets (e.g. savings, stocks, capital gains, investments) greater than $2.5 million are taxed a flat 75%, with one flat $10,000 annual refund per child/dependent.

I'm not nearly as generous as Sandman. Also, unfortunately, it's not easy to place limits on the number of dependents. It's not the Duggar kids' fault there are 5,000 of them, and they deserve to eat even if their parents are super fucked-up.

For kicks, we'll call 2.5x the living wage $75,000. Under my plan, Mitt would keep "only" $12.5 million if he brought home $50 million, assuming that he has no dependents, and his tax rate would be approximately 74.89%. Bawwwwwwwwwwwwwwww. For comparison, a single person with no kids making $250,000 would have a ~52% tax rate, meaning they get to keep $118,750. If that person has a house-spouse and 3 kids, they would get to keep $158,000, making for a tax rate of ~41%.
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Offline Sigmaleph

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Re: The One Sentence Tax Code Challenge
« Reply #18 on: January 24, 2012, 06:45:20 pm »
Percentage of income taxed will be a monotonic, continuously differentiable function f, with f(0)=0%, f'(0)=0, lim f(x) x->∞ ~= 60%.

Yes, incredibly vague, I know.  Fact is, I only have very basic ideas on the subject: that percentage taxed should increase with income, that you should begin at zero and grow slowly at first, and that there should be a maximum tax rate far below 100%. I'm not even sure these are good basic notions.
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Offline Captain Jack Harkness

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Re: The One Sentence Tax Code Challenge
« Reply #19 on: January 24, 2012, 06:58:23 pm »
"Fuck this shit.  Reform isn't easy."

See, mine isn't a tax code, but rather a statement about how simplifying the tax code to one sentences will leave way too many holes.   Hell, the current complex tax code has a bunch of holes.  As demonstrated here though, there are several problems with the tax codes that users have posted.  About the only thing they have provided is fodder for others to tear apart what's wrong with them via critical thing.  I imagine this thread is supposed to be a thought experiment, so maybe my point isn't as important to the general purpose of this thread.  Still, it's absolutely foolish to think you can fix the tax code to once sentence realistically.  Of course, as you try to figure things out more, and get feedback, you raise the chances of people lobbying for special tax considerations.

So yeah.  I totally just ranted out of nowhere there, but yeah.  That's my sentence and shit.
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Offline Osama bin Bambi

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Re: The One Sentence Tax Code Challenge
« Reply #20 on: January 24, 2012, 07:01:05 pm »
Do run-on sentences count? What about coherent tax policies without punctuation?
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shykid

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Re: The One Sentence Tax Code Challenge
« Reply #21 on: January 24, 2012, 08:01:45 pm »
Quote from: Wykked Wytch on January 24, 2012, 07:01:05 pm
Do run-on sentences count? What about coherent tax policies without punctuation?

The TimeCube tax plan.
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Offline DasFuchs

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Re: The One Sentence Tax Code Challenge
« Reply #22 on: January 24, 2012, 09:04:44 pm »
Quote from: Wykked Wytch on January 24, 2012, 07:01:05 pm
Do run-on sentences count?

Reread the OP
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Offline Meshakhad

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Re: The One Sentence Tax Code Challenge
« Reply #23 on: January 24, 2012, 09:19:50 pm »
"All ur monies r belong 2 us"
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Art Vandelay

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Re: The One Sentence Tax Code Challenge
« Reply #24 on: January 24, 2012, 11:50:05 pm »
Income tax will be untaxed up to $60 000, every dollar between $60 000 and 100 000 will be taxed at 20% and every dollar between $100 000 and $200 000 will be taxed at 40% and every dollar above $200 000 will be taxed at 55% as well as business tax rates, which will be a flat 10%, with a super profits tax of 60% for every dollar in profit over $5 000 000 (all business income and expenditures that occur within the country will be subject to the tax, regardless whether the business in question is based in Australia).
« Last Edit: January 24, 2012, 11:53:51 pm by Art Vandelay »
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Offline Osama bin Bambi

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Re: The One Sentence Tax Code Challenge
« Reply #25 on: January 25, 2012, 12:33:04 am »
Quote from: DasFuchs on January 24, 2012, 09:04:44 pm
Quote from: Wykked Wytch on January 24, 2012, 07:01:05 pm
Do run-on sentences count?

Reread the OP

Oops I forgot because I haz the dumb...

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