Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Would a compromise of having a flat tax along with a negative income tax be politically feasible?
8 Answers
- karen dLv 48 years agoFavorite Answer
Anything's possible with these guys, but no, it wouldn't be a good idea.
Better to have a flat tax with minimal deductions, and a blanket exemption for say, the first $20,000 everyone makes. The paperwork would be simple, which automatically makes it harder to cheat, and easier to enforce. If someone is making $40,000 a year, their effective tax rate will be almost half that of someone making $200,000. That's even before you factor in the lost tax deductions, which are going to be felt almost exclusively by the wealthy.
- RounderLv 68 years ago
since we have a progressive tax with negative income tax right now and it doesn't work because the government continues to spend more than it can possibly collect - no, a flat tax with a negative income tax would not be politically, or practically feasible
- UmuruLv 48 years ago
tom, I think the NIT is brilliant, but let's be honest: That's completely Socialist in the underpinnings, and has little to no chance of surviving the American Political engine as it stands today. Too many people think that helping your neighbor is wrong, because they are still listening to McCarthy et al., 60+ years after the fact.
- How do you think about the answers? You can sign in to vote the answer.
- jeeper_peeper321Lv 78 years ago
nope
each political party has to much invested into the current tax system
there are so many special interest loops holes, neither party has the political will to go after them
- Anonymous8 years ago
matters how much the flat tax is and how much the negative income tax (aka welfare) is
- Bob WLv 68 years ago
No, the idea is to getting everyone to work and everyone to have skin in the game and pay something. It used to be that way not so long ago.
- Anonymous8 years ago
let's have a regressive progressive tax!