.. and the simple answer to this problem is by dumping the current large, complicated personal tax system and replacing it with a simple flat tax of 20%, over $10,000.
We already pay a 10% consumption tax, so 20% income equals 30% ... no-one should pay over 30%.
Then high income earners, who currently pay over 60%, wouldn't need to reduce tax .. and couldn't with a simple tax system.
Tax income wouldn't decline too much as taxpayers would be willing to pay 20% and it would encourage investment and risk taking.
The answer is simple but greedy politicans cannot see past their jobs.
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