nice one scastle
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Originally Posted by Jerrek
I read an interesting idea in a political science book the other day. How about we abolish the unfair income tax thing altogether. Why? Why should you pay more percentage in taxes the more you make? That is really discrimination based on wealth. Why should you pay taxes if you can barely feed your children?
So instead, move away from an income tax system towards a consumption tax system. Abolish income tax. (except on interest, capital gains, and dividends) Instead, raise the sales tax to 15% or whatever rate you want. The more you consume, the more taxes you pay. Don't put any sales tax on food though, and other necessities. This way you don't have to pay any tax if you are poor, and you pay a lot of tax if you're spending like mad.
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Jerrek, can you give a quick and easy to understand overview of how income tax works in your neck of the woods?
It'd probably help us understand the reasoning behind the idea to get rid of it.
Do you guys have a flat rate of income tax rather than the tax bands that we have over here?