Even if that was possible today it would just mean that money goes to the government not the people. Most of it would flow overseas, every single entity in the planet would come begging with their hand out. Actual citizens would be very last on the list.
Probably the only feasible thing would be to set income tax to zero. However, half the nation doesn’t pay income tax anyway (100% refund).
And there were an unimaginable number of tax loopholes available back then that ultimately reduced the individual tax rate enormously. You just had to reinvest your income in a multitude of increasingly bizarre tax dodges devised by increasingly byzantine tax laws.
Even if that was possible today it would just mean that money goes to the government not the people. Most of it would flow overseas, every single entity in the planet would come begging with their hand out. Actual citizens would be very last on the list.
Probably the only feasible thing would be to set income tax to zero. However, half the nation doesn’t pay income tax anyway (100% refund).
Which may as well be a fairy tale, not going to happen ever again. That was an anomaly.
And there were an unimaginable number of tax loopholes available back then that ultimately reduced the individual tax rate enormously. You just had to reinvest your income in a multitude of increasingly bizarre tax dodges devised by increasingly byzantine tax laws.