Dual Rate Income Tax

In the modern era, the U.S. income tax structure has several tiers. If you make less than about ten grand, you pay a 10% tax rate. Earn between ten and forty-ish grand, then you pay 12%. Between 40 and 85 grand, your tax rate reaches 22%.

And so on. All told, there are seven tax brackets, topping off at 37% (again, as of 2019).

A dual-rate income tax set up would whittle these multiple tiers down to two. In that system, all income up to a certain amount would be taxed at one level. All taxes above that threshold would have a second tax rate.

That's it. Two distinct tax tiers only.

Put the cutoff at $150,000. Everything up to $150,000 gets taxes at 19%. Everything $150,000.01 and up gets taxed at a rate of 23%. That structure would constitute a dual-rate income tax.