Not just income, capital gains too. Both taxed equally.
But a flat tax would screw the poorest who now pay no taxes and many get refunds due to EIC and other credits. Going to a flat tax would tax them and take away that extra. I couldn't care less about the EIC. I think it's BS anyway. I raised my kids on my own dime. I got a few small EICs early on but back then it was a couple hundred bucks. Today it is thousands. Not exactly sure how much and it's based on number of kids and other crap, but at $250 per kid per month (the advanced amount during the pandemic) or $3,000 per Kid/year, it adds up fast. Some families with 5-6 kids are cleaning up if they get that full amount. I don't think this is fair to people with no kids, or people who are more responsible to the planet and only have one or two kids, for that matter. And it is WAY TOO MUCH imo. I could see a couple grand a year in most cases, but 3K a year per kid? Octomom would get 24K/year just for producing kids. Any idiot can produce a kid, well unless there is a medical reason they can't.
I would rather that money went into community assistance programs to be administered to apply to only those in need. And my reason is seeing what many do with income tax returns, blowing it on things they can't afford like 10 cent millionaires. They go out and but 4K 65" TVs and crap like that, more often than not. I don't know about other areas of the country, but that is common around here. And I don't begrudge them those things, I just think the money should go toward the raising or well being of kids it was intended for. Hope that doesn't make me a big meanie.
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