By Jim Abrams / Associated PressWASHINGTON -- The IRS has collected more than $3.2 billion, mainly from wealthy people, in its most ambitious effort ever to crack down on improper tax shelters, the agency said Thursday.
From my March 7 post.
I think that a straight 18% tax rate on GROSS INCOME... forget all of the deductions... with a deduction for the first $20,000 (amount can be worked out). That really amounts to a graduated tax up to a couple hundred thousand and a flat tax afterward. A simple, fair approach to taxes that should be close to revenue-neutral. After all, there's a lot of nonsense that goes on with the very rich to avoid taxes. Let's just clean it up and make it simple.
| Adjustment Amount | Gross Income | Gross Minus Adjustment | Taxes | Effective Tax Rate |
| 20,000 | 20,000 | - | - | 0.0% |
| 25,000 | 5,000 | 900 | 3.6% | |
| 30,000 | 10,000 | 1,800 | 6.0% | |
| 35,000 | 15,000 | 2,700 | 7.7% | |
| 40,000 | 20,000 | 3,600 | 9.0% | |
| 45,000 | 25,000 | 4,500 | 10.0% | |
| 50,000 | 30,000 | 5,400 | 10.8% | |
| 75,000 | 55,000 | 9,900 | 13.2% | |
| 100,000 | 80,000 | 14,400 | 14.4% | |
| 150,000 | 130,000 | 23,400 | 15.6% | |
| 200,000 | 180,000 | 32,400 | 16.2% | |
| 250,000 | 230,000 | 41,400 | 16.6% | |
| 300,000 | 280,000 | 50,400 | 16.8% | |
| 1,000,000 | 980,000 | 176,400 | 17.6% | |
| 5,000,000 | 4,980,000 | 896,400 | 17.9% | |
| 8,000,000 | 7,980,000 | 1,436,400 | 18.0% |