Yes, the “Smart Tax” code.
Note: Graph represents effective tax rate at income multiples of the poverty threshold given a smart rate of 18%
- Replace the progressive tax bracket system with a single tax bracket
- Remove all exemptions and deductions and replace with a single exemption equal to the poverty threshold and a single deduction equal to the amount of other taxes paid
- Capital gains and income will be treated the same
- Revise corporate tax system to transfer tax on profits to shareholders
For more information visit the “Smart Tax” facebook page.