We are now talking of simplifying the tax system by reducing
the number of tax brackets. While eliminating
the inefficiencies of multiple disruptive transitions may have been a
progressive reform back in 1916, we are now living in the twenty-first century,
and there’s no need to have any brackets at all. No, not a flat tax – just a continuous curve
fitting a simple equation (a logarithmic trendline on the current levels seems
a reasonable fit). We couldn’t do that
in 1916, or 1956, because we didn’t all have access to computers or smartphones
or pocket calculators. Now we do. Why
are we deliberately hobbling our tax system by pretending we have to add all
this up on our fingers?
Corrections to the blogosphere, the consensus, and the world
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