If you’re still with me you might be familiar with my last few posts describing my idea of a simplified tax system. Basically, we tax transactions of money in exchange for goods and services, between two tax paying entities . The tax consists of two components: Continue reading
Despite all the brilliant-ness of this tax system, it has some shortcomings. Here I will try to cover all the problems I can think of before anyone else points them out!
The Rich are not singled out
One is that there is still argument that the rate at which the rich pay tax should be higher than for lower income people. This system does not address that except by allowing for a higher D-Factor on transactions favoured by the rich. Continue reading
Previously I discussed the selection of appropriate D-Factor values. In this post I will go over in more detail some of the unusual types of payments we make and explain how this tax system applies to those payments. I won’t talk about the standard payment for goods and services as they are straight-forward enough. Continue reading
Whenever there are changes to the tax system, you always find people who say “We’re worse off now than before!” Yeah well, you can’t please everybody all the time. And that’s usually because the changes are too abrupt. The government decides to tax him less and her more after July 1, so the changes will be sudden and potentially disruptive. Continue reading