As opposed to the 55 they pay for the same “socialist” services at a worse quality of the services rendered?
Might be the best in the world for the folks who can afford world class service, but the US medical system costs the US taxpayer far more than their counterparts even in a “socialist” 45% top bracket tax country, for a far lower quality of service rendered.
Way it ought to be,
Separate incomes out by the percentile,
Assign the bracket boundaries at the thresholds of the 20th percentile, 40th percentile, 60th percentile, 80th percentile, 95th percentile, and 99th percentile.
Incomes in the 0-20 bracket are untaxed,
Incomes in the 20-40 bracket are taxed at a rate equal to the share of national wealth controlled by households who top out in this bracket,
Incomes in the 40-60 bracket are taxed at a rate equal to the share of national wealth controlled by households who top out in this bracket,
Incomes in the 60-80 bracket are taxed at a rate equal to the share of national wealth controlled by households who top out in this bracket,
Incomes in the 80-95 bracket are taxed at a rate equal to twice the share of national wealth controlled by households who top out in this bracket,
Incomes in the 85-99 bracket are taxed at a rate equal to twice the share of national wealth controlled by households who top out in this bracket,
Incomes in the 99+ bracket are taxed at a rate equal to three times the share of national wealth controlled by households who top out in this bracket, individuals in a household that top out in this bracket are also barred from elected, hired, or appointed public office for ten years after the last time they top in this bracket.
Also, for every multiple of the median income in the 0-20 bracket you cross over, you pay an additional 4% increase to your nominal tax rate
Also also, loans collateralized on capital assets (except for a primary residence mortgage or primary vehicle car loan) are considered salary income for tax purposes.
As opposed to the 55 they pay for the same “socialist” services at a worse quality of the services rendered?
Might be the best in the world for the folks who can afford world class service, but the US medical system costs the US taxpayer far more than their counterparts even in a “socialist” 45% top bracket tax country, for a far lower quality of service rendered.
Way it ought to be,
Separate incomes out by the percentile,
Assign the bracket boundaries at the thresholds of the 20th percentile, 40th percentile, 60th percentile, 80th percentile, 95th percentile, and 99th percentile.
Incomes in the 0-20 bracket are untaxed,
Incomes in the 20-40 bracket are taxed at a rate equal to the share of national wealth controlled by households who top out in this bracket,
Incomes in the 40-60 bracket are taxed at a rate equal to the share of national wealth controlled by households who top out in this bracket,
Incomes in the 60-80 bracket are taxed at a rate equal to the share of national wealth controlled by households who top out in this bracket,
Incomes in the 80-95 bracket are taxed at a rate equal to twice the share of national wealth controlled by households who top out in this bracket,
Incomes in the 85-99 bracket are taxed at a rate equal to twice the share of national wealth controlled by households who top out in this bracket,
Incomes in the 99+ bracket are taxed at a rate equal to three times the share of national wealth controlled by households who top out in this bracket, individuals in a household that top out in this bracket are also barred from elected, hired, or appointed public office for ten years after the last time they top in this bracket.
Also, for every multiple of the median income in the 0-20 bracket you cross over, you pay an additional 4% increase to your nominal tax rate
Also also, loans collateralized on capital assets (except for a primary residence mortgage or primary vehicle car loan) are considered salary income for tax purposes.