None of this will ever happen.
by Dutch (2024-02-16 21:17:02)

In reply to: PBR Poll on Possible Federal Revenue Enhancements....  posted by Raoul


There is too much money invested in the current system which means too much resistance to any meaningful change.

That said, I would like to explore the possibility of eliminating income tax all together and replacing it with a VAT. I think lowering the estate tax rate exemption should also be on the table, as well as eliminating the automatic step up in basis once certain income or wealth thresholds are met. I'd like to see uncapping social security combined with some form of privatization or semi-privatization so that we can get out of the cycle of taxing current workers to pay for the retirees. Demographics are not good for social security as it currently exists.