I’m all for a flat tax but how does it remain a flat tax when there are deductions?
To me the idea is to get rid of the manipulation capabilities and that is not possible with deductions.
everybody pays 10%, no deductions for anything, no expenses count
everybody including companies charities and everybody pays 10%.
Personal Deduction of $5,000 per person in the Household. That will take care of the basic cost of living for low income households.
Include all sources of income, work, investments, welfare, housing allowances and food stamps.
Tax the remainder at 10%.
1. Eliminate the Corporate tax.
2. Eliminate all deductions
3. Charge a 15% on income above $20,000.
It is flat above $20,000. We could eliminate #3, but I do want an incentive to get people to work.
This is just one of many reasons why the income tax is an antiquated, even archaic, hangover from our more primitive ancestors who imagined a man's life could be evaluated in terms of a family annuity of so many Quid per Month, or Pounds per Year!
I’m all for a flat tax but how does it remain a flat tax when there are deductions?
To me the idea is to get rid of the manipulation capabilities and that is not possible with deductions.
I agree. Just a lower flat rate that is the same for EVERYONE across the board. No manipulation possible by anyone, anywhere, anytime. Everyone pays the exact same rate.
What about corporate taxes? Can you imagine the savings to corporations if the either didn’t pay tax at all, or just paid one simple flat tax rate?
Or even better , totally abolish the IRS and go with the Fair Tax. Either way, just keep it simple and no deductions as that is an invitation to corruption or influence by the IRS.
That’s a rhetorical statement. There are no deductions under a flat tax, that’s the idea.
Even a flat tax is not so good...The only fair tax is SALES tax as it is consumer driven.
I agree! Moreover, it should take a national referendum to raise the tax rate on the postcard OR any rule or regulation connected to the postcard. Number one rule should be “everybody pays”. Take politicians completely out of the whole process!