If YOU were in charge, how would you structure the taxing systems to be fair to everyone?

[thatdemguy]

28. I have a few things to say that won't don't in the title bar.

To those saying go back to the 70's tax rates, it wont work. First every dime of interest of any type was a deduction. The effective tax rate back then was similar to what it is today. It was with in a few % for the rich. The tax rate went down for the rich but deductions that allowed them to avoid taxes also went away.

My tax plan is simple, flat tax on all income above say 50k a year ( single and married would be 100k ). I am not sure what the % would need to be but any and all income taxed at that. NO deductions, no credits, no write offs. Capital gains taxed at the same rate, for math lets say 20%.
make 51,000 pay 20% on the 1k or 200 bucks.
make 100k a year you pay 20% on 50k or 10K
make 1 million you pay 20% of 950k or 190k

This allows the lowest earners pay little to no taxes, the rich pay in effect 20% ( ok 19% ) but cant use loop holes like long term capital gains being a lower rate. The effective tax rate on the rich but would be lower on the poor, due to removing the lower rates on capital gains, and the loop holes. It removes the "income" tax avoidance of paying CEO's in shares, as soon as they sell em its full taxed income.