Everyone [?[ wants to see a simplified tax structure, but your proposal confuses me.

You say, no property tax, yet No. 1 calls for a land tax.

You say, no income tax, yet No. 2 proposes two income taxes.

You say you would penalize tax evasion, yet I see obvious loopholes.

One dollar under $10 million and you pay nothing. One dollar over and you pay 25%. One dollar under $1 billion and you pay nothing. One dollar over and you pay 50%. Those seem like obvious loopholes way too easy to manipulate.

I’ve had this idea for a while. Perhaps someone could critique it. I call it the FAIR tax: Federally Applied Income Rate.

It combines the idea of a progressive tax with the idea of a flat tax. It is simply a quadratic function where everyone pays on the exact same parabolic scale. Coefficients, variables, and constants may be adjusted to fit certain defined criteria. Regional cost of living, for example. Anyone with a computer could calculate their taxes.

It may start at ‘n’ times the poverty level so that everyone above a minimum level is included, and end at 49% of a topmost income level, so it is not confiscatory. Keeping 51% of $10 million or $100 million is hardly a disincentive to earn more.

Deductions should be limited to life’s necessities: Mortgage or rent on a primary residence, childcare, healthcare, education, and charitable donations.

The FAIR tax would apply to all types of incomes and to all people, including corporations. The formula should collect enough tax to equal the cost of running a functioning government. No more; no less. And everyone has equal skin in the game.

Doesn't this make more sense than hard-line income brackets?