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Does this plan make sense?
(lemmy.world)
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this post was submitted on 21 Feb 2024
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Ding ding ding
No tax up to $75k, tax brackets with exponential decay reaching 95% at $1MM, all adjusted for inflation annually.
Percentages adjusted for inflation? Do you mean lower percentage of income is taxed during years with high inflation?
The tax bracket limits, obviously.
This makes sense, I agree to an extent. Abolishing income tax in hindsight is a bit extreme.