A while back I developed and presented my tax proposal.
Initially I called it the CIPH-rate tax.
Then I added an L and made it the CLIPH-rate tax.
That stands for Comprehensive Lifetime Income per hour.
The name is accurate but the invocation of a cliff is a very bad idea. Cliffs are dangerous things that people fall off and die.
It is also extremely misleading - my proposal if is for a smooth tax-rate curve rather than the familiar thresholds with sharp changes in rate at those income points.
Tax to reward work
I have been following with interest the enthusiasm among those on the US right for the "No Tax on Overtime" proposal.
This is driven by a similar ideal to the one that drives the CLIPH-rate tax.
People who work longer hours should pay lower rates of tax than someone who earns the same amount in less time.
An overtime tax is a blunt instrument to do that, but it is interesting to see the enthusiasm for it.
What would be a better name?
So, what snappy name can we come up with for my proposal that makes it sound less technical and avoid invoking the idea of a cliff?
Here are some initial ideas:
- Work reward system
- Laziness tax
There are downsides to the latter term, because it might end up punishing those unable to work for health reasons, which is certainly not my aim. Those unable to work should be much better off than they are at present.
But those who are able to work and who do not do so should pay much higher rates of tax. I'm thinking here of those who live off inherited and other unearned wealth, rather than working for a living.
Does anyone have any alternative name suggestions?