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Someone living in a major metropolis who earns $30,000 a year shouldn't have to pay the same tax rate as someone who earns the same amount of money while living in rural Nebraska. And someone who earns $400,000 a year shouldn't have to pay the same tax rate as their billionaire counterpart.
I sincerely hope I'm not coming across as anti-rich, because I most assuredly am not. People who work hard and earn their riches have every right to enjoy their prosperity. However, what I'm advocating for is a rewrite of the tax tables to better reflect modern day America.
One dollar separates a ten percent increase in taxes for someone who earns $37,450 a year and someone who earns $37,451 a year. That may seem like a lot of money to people living in a rural part of the country, but that is a whole lot of money for someone trying to make a living in a city. The same goes for the higher tax brackets.
I'd like to see the federal tax table adjusted to reflect the cost of living in a particular area. City living costs a lot more than rural living and our tax tables should reflect that.