Don_Dickle@lemmy.world to Explain Like I'm Five@lemmy.worldEnglish · 2 months agoELI5 What would happen short term if the US got rid of income taxes and went to a flat rate? What would be the long term outcome?message-squaremessage-square11fedilinkarrow-up11arrow-down10
arrow-up11arrow-down1message-squareELI5 What would happen short term if the US got rid of income taxes and went to a flat rate? What would be the long term outcome?Don_Dickle@lemmy.world to Explain Like I'm Five@lemmy.worldEnglish · 2 months agomessage-square11fedilink
minus-squareguldukat@lemmy.worldlinkfedilinkEnglisharrow-up0·1 month agoA flat tax would be a set percentage of total income. It would cause the rich to pay more since they wouldn’t have their deductions and loopholes, that’s why there’s so much bullshit propaganda against it.
A flat tax would be a set percentage of total income. It would cause the rich to pay more since they wouldn’t have their deductions and loopholes, that’s why there’s so much bullshit propaganda against it.