I am sick of the tax system in this country. I for one think that black Americans who are the children of slaves should not be paying a damn thing when it comes to taxation but you know they won't ever stop taxing. So how about someone does something to fix this mess?
A friend and I were talking last night. We think taxation should be reflected based on lifestyle, income, and reflected in the current value of USD so inflation can lowball us. In other words, make it fair at the bottom.
The standard cost of living for a single adult right now is $36k in America. I feel like it should really be $45k. That would be enough to afford to actually buy a house, have a car, and buy food. But that is all you have money for. Nothing left for investing or starting a business. Instead of starting tax at the bottom, they should start it at 20k OVER the standard. So no single adult making under $65k should be paying federal taxes. This will allow people more opportunities to invest, start companies, etc. without having to worry about struggling.
If you are married and your spouse is a dependent, add on $20k to that, so married couples earning under $85k = no taxes. If you have kids, then you should be tax-free under $100k. Kids are expensive, especially if you want them in a good school.
Just throwing all this out there. Do you guys have any ideas that could make this system work better?
A friend and I were talking last night. We think taxation should be reflected based on lifestyle, income, and reflected in the current value of USD so inflation can lowball us. In other words, make it fair at the bottom.
The standard cost of living for a single adult right now is $36k in America. I feel like it should really be $45k. That would be enough to afford to actually buy a house, have a car, and buy food. But that is all you have money for. Nothing left for investing or starting a business. Instead of starting tax at the bottom, they should start it at 20k OVER the standard. So no single adult making under $65k should be paying federal taxes. This will allow people more opportunities to invest, start companies, etc. without having to worry about struggling.
If you are married and your spouse is a dependent, add on $20k to that, so married couples earning under $85k = no taxes. If you have kids, then you should be tax-free under $100k. Kids are expensive, especially if you want them in a good school.
Just throwing all this out there. Do you guys have any ideas that could make this system work better?