Would You Let the I.R.S. Prepare Your Taxes? (2015)

Re:Would You Let the I.R.S. Prepare Your Taxes? (2015) by philwelch on Tuesday August 14, 2018 @02:44AM (#17756001)

In fact, removing itemized deductions alone would do this, because the standard deduction is mathematically equivalent to a 0% bracket.

Alternately, you could even have a progressive, flat tax with a standard deduction of $150,000 and like a 40% rate. I’m surprised the Democrats haven’t proposed that just as a publicity stunt.

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Re:Would You Let the I.R.S. Prepare Your Taxes? (2015) by maxerickson on Tuesday August 14, 2018 @06:43AM (#17756740)

Deductions are not entirely equivalent to a 0% bracket in a progressive tax scheme, they come out of top bracket income.

So high earners get a larger tax reduction from deductions than low earners. There's not really a way to do that with a 0% bracket (and in fact we have both a 0% bracket and deductions).

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