People like Mr. Forbes who have the ability to arrange their affairs in such a way that they have very little or no “income” love an income tax! The rest of us peons would be FAR better off with the Fairtax!
yes.
With the progressives in DC, better chance of making the earth flat again.
Today’s Washington DC is huge (affirmative action) jobs program. Too many IRS agents would lose their jobs with a flat tax
When does a DC bureaucracy ever shrink or get the axe?
Make it “per capita”.
How about instead of worrying about taxes, we just make a law that says the government can’t take money from one person and give it to another?
If Republicans and pro-growth Democrats had their wits about them, they would push the flat tax.
Logic isn’t allowed in D.C. note last five years.
Flat tax, yes.
Glad to see Mr. Forbes is supporting me on this.
But it has to be on ALL income, not just wages.
Income is income is income.
It doesn’t matter if you get those dollars from wages, dividends, capital gains, gifts, or theft. It’s dollars in your pocket, and they all spend alike.
A flat rate on just wages means that taxes will be paid mostly by middle-class Americans, while Forbes and his ilk hide their money from the flat tax with their loopholes, like capital gains and dividends.
The only way a flat tax will work is if everybody pays it. Even the low income and the super rich.
But elected officials, and lobbyists and CEOs and the welfare recipients will therefore fight it, so it doesn’t stand a chance.