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Does this plan make sense? (lemmy.world)

submitted 8 months ago by [email protected] to c/[email protected]

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[–] [email protected] 6 points 8 months ago* (last edited 8 months ago) (2 children)

Ding ding ding

No tax up to $75k, tax brackets with exponential decay reaching 95% at $1MM, all adjusted for inflation annually.

[–] [email protected] 0 points 8 months ago (1 children)

Percentages adjusted for inflation? Do you mean lower percentage of income is taxed during years with high inflation?

[–] [email protected] 1 points 8 months ago* (last edited 8 months ago)

The tax bracket limits, obviously.

[–] [email protected] 0 points 8 months ago

This makes sense, I agree to an extent. Abolishing income tax in hindsight is a bit extreme.