I like the flat tax.
I think the best bet at this point is making permanent the present reductions in the tax rates, further rate cuts, elimination of all corporate taxes, further capital gains cuts, elimination of death taxes, and the total privatization of Social Security. And most important reduced government spending.
If we get the flat tax it goes something like this -
Flat tax 17% + FICA 7.65 = 24.65% (32.3% for self-employed)
It taxes corporations at the same rate who then pass the 24.65% onto the consumer in hidden taxes. So we dumb consumer will be paying close to 50% which is a tax increase.
Also, we are supposed to submit our tax return on a postcard with our name, social security number, and income. Now, I don't know about you but I don't want my SS# and income on public display.
The Fair tax is a one-time tax at the cash register. No tax return. No IRS.
Need I say more.
We had a flat tax back in the 80s. Look what happened to it.
We had a flat tax back in the 80s. Look what happened to it.
Dittos on the flat tax. Make the code less complicated so those able to hire expensive accountants pay their fair share. You know, people like Tereezza & J Fn'