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 parabolic formula where everyone pays on the exact same scale. For example: F(x) = ax² + bx + c, where coefficients, variables and constants may be adjusted as required. Anyone with a computer could calculate their taxes.

It may start at x times the poverty level, so that everyone above a minimum level is included, and end at 49% of income so it is not confiscatory.

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

It would apply to all types of incomes and to all people, including corporations. The formula could be adjusted to comport with a functioning government. No more; no less. Everyone is in the game equally.

What are the chances?