When I say tiered I may already be describing something similar to what we already use & in my ignorance to economics I don't even realize it (feel free to elaborate) but I'll break down how my theoretical system works & you can debate amongst yourselves. Also, please let me know if any of my calculations are off at any point. I'm pretty sure I did everything correctly but 🤷‍♂️

First, my terminology: Actual Rate(AR) - the tax applied to ONLY the income within that range. Income Range(IR) - the range of income each Actual Rate is applied to. Effective Rate(ER) - the total percentage (rounded to 1 tenth) of tax on the ENTIRE income (given number is assuming MAXIMUM Income Range earning). The sum of all Actual Rates. Take Home(TH) - should be self explanatory...given number is assuming MAXIMUM Income Range earning (rounded however I feel like it because adding this was an afterthought)

Now the tiers: AR: 10% IR: $0-$35,000 ER: 10% TH: $31,500

AR: 15% IR: $35,001-$50,000 ER: 11.5% TH: $44,250

AR: 20% IR: $50,001-$75,000 ER: 14.3% TH: $64,275

AR: 25% IR: $75,001-$100,000 ER: 17% TH: $83,000

AR: 30% IR: $100,001-$150,000 ER: 21.3% TH: $118,000

AR: 35% IR: $150,001-$200,000 ER: 24.8% TH: $150,500

AR: 40% IR: $200,001-$250,000 ER: 27.8% TH: $180,500

AR: 45% IR: $250,001-$300,000 ER: 30.7% TH: $208,000

AR: 50% IR: $300,001-$400,000 ER: 35.5% TH: $258,000

AR: 55% IR: $400,001-$500,000 ER: 39.4% TH: $303,000

AR: 60% IR: $500,0001-$1M ER: 49.7% TH: $503,000

AR: 65% IR: $1M( $1)-$10M ER: 63.5% TH: $4.65M

AR: 70% IR: $10M( $1)-$100M ER: 69.3% TH: $30.7M

AR: 75% IR: $100M( $1)-$500M ER: 73.9% TH: $130.5M

AR: 80% IR: $500M( $1)-$infiniti ER: high% TH: Still a lot.

If you've made it this far (& given an answer) feel free to suggest changes to how it's structured to match or exceed what we currently use.