• MedicsOfAnarchy@lemmy.world
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    3 months ago

    I’m inclined towards a universal sales tax, and elimination of income tax. That cuts out loopholes for billionaires who run around buying property, buildings, and yachts - a 10 or 12% tax would fix that (of course, every solution provides its own set of problems) The other solution is having my employer “tip” me every two weeks.

    Edit: Some very good points below, which I’d never considered.

    • obre@lemmy.world
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      3 months ago

      Income tax can be set up as a progressive taxation system, but sales tax, even with an added luxury tax is inherently regressive because poor people spend more of their money as a proportion of their income.