Kincaid Exploratory Committee

No Federal Income Tax and Tax Filing for People Earning 61,000 or Less Summary This proposal would eliminate federal individual income tax liability for people earning $61,000 or less in total wage income, simplifying the tax system for tens of millions of working Americans while having minimal impact on federal revenue. So those people  making about 29.33 an hour and under. Would pay zero federal income tax . And would not be required to file a tax return every year.  Payroll taxes would still be taken out of paychecks . For example Social Security and Medicare . And that's it no federal tax taken out of paychecks.  Rationale Based on IRS data from the past decade (2013–2022), households earning $61,000 or less make up approximately 50–60% of all U.S. tax filers. This group contributes only 2–3% of all federal individual income tax revenue, equal to $53–$79 billion per year, depending on the year. That amount  is a rounding error in the Department of Defense. ...