There should be a straight 20% tax.
Trump’s co. made 446.3million in 2019 and1.9 billion in 2020 and he only paid $750.00 in taxes both years. That means that he made $3000.00 per year. That works out to $60 per week.
I just used Trump as an example because the information was out there. He has been cheating on his taxes his whole career. Most Wealthy people use the tax code to their benefit. Rich people make the laws for rich people.
The average middle class person pays about 28%, Some wealthy people are paying 50%. While others who have tax write offs, pay little or nothing at all.
Apple pays less than 10% in taxes that is worldwide. It is unclear how much taxes they paid the United States of America. Yet the CEO pays 50% For his personal income tax
There will be tax write offs for companies and corporations yet that should not trickle down to the personal income tax.
the middle class is paying the most taxes percentage wise. On average $13,000.00 per year. On a $60,000 a year income.
Do not worry about tax services. There will still be a need to do taxes. Besides that, they have been ripping people off for years.
If you do not pay any taxes, you should not get a refund. Refunds are the amount over what you have paid in versus the amount of taxes you owe.
There are a lot of Fortune 500 companies that paid 0. Taxes and yet they’re making billions. On top of that, the American taxpayers are giving them tax refunds of multi $1,000,000. If you show a profit, you should be taxed on that profit.