On the surface, this sounds warm and fuzzy. But if you are going to tax one group differently, then there will inevitably a change or creep or whatever based on how the wind blows.
No thanks. 10% tax. 7% fed, 2% state, 1% local. No exemptions. Live with it. This would force the government out of the stuff they do poorly.....taking care of the poor.
Corporate earnings taxed the same.....no exemptions.
I wouldn’t even argue for a corporate tax. Corporations don’t pay taxes. It’s an expense passed on to the consumer.
Friedman estimated that a 17% tax on income for everyone, no exemptions, no exceptions, would be enough to fund gov’t and would not distort the allocation of resources like the current tax code does.