If you could legally pay whatever income tax you wanted, what fraction of your earnings would you give the government? If you knew that everyone would have to pay the exact same fraction of their incomes, would you choose any differently?
There’s a part of me that wants to fall back on 10%. I mean… if that’s good enough for God, why shouldn’t it be good enough for Uncle Sam?
And I absolutely think that everyone should pay the same fraction of their income, no matter how much they make. That’s the easiest way to make sure it’s fair. No loopholes. You make $25,000 a year, then $2,500 goes to the IRS. You make 2.5 million a year, then $250,000 goes to the government.
Sure, that’s a big difference in how much people pay… But if you have more money, you can afford to lose more.
But since wealthy people are the ones who make the rules for how taxes are paid, they’re gonna keep giving themselves breaks so they can keep getting wealthier. The system is broken.
What do you think? Should there be a percentage rate across the board that applies to everyone with an income? Let me know down in the comments!
*The Question of the Week can be found in The Book of Questions by Gregory Stock, Ph.D.