Simplify the Tax Code and Treat All Tax Payers Equally

Simplify the tax code and treat all taxpayers the same.

  1. Eliminate all deductions
  2. No Federal Tax on the 1st $45,000 earned by all taxpayers
  3. 20% Tax on all money earned starting at $47,001

This should result in about $6T of revenue not including the approx $500b paid by businesses.

Interesting idea. I think I’d rather go to a national sales tax concept and scrap the IRS though.