Still too complicated and has too many loopholes.
I think there is only one way to tax fairly and effectively, is a graduated VAT system. So on a loaf of bread 0% tax, on a Ferrari, 100% tax.
All of a sudden, 100% of the population are paying taxes in your country. The only people that will actually feel the pinch are the super wealthy that can avoid taxes under the current system. Not to mention organised crime.
Yes I agree the VAT is a better idea but excluding raw food and medicine.
The post is directed at the current income Tax system and the fact that employers don’t automatically expand or pay better just because they keep more of their profits from low taxes.