To: hchutch
And a flat tax would get rid of the personal exemptions. When you have exemptions, you do not have a flat tax, and you leave the door open to more and more monkey wrenching by congress to provide benefits to special interest that and special interest this depending on who is donating big that day.
I like Forbes plan. NO TAX on the 1st $35,000 of income and a flat % for every dollar there after with NO deductions.
To: Phantom Lord
To respond to Post 253:
I don't know, either, but Forbes got his butt kicked by Dole in `96 over this. If I knew why there was a hang-up, it would make it a lot easier to address said hang-up.
As for the 401(k)s, that needs to change. We ought to encourage people to save for retirement, and get rid of the hit when they withdraw after the retirement age for Social Security.
Now for Post 256:
Forbes had a good plan - I supported him in `96 and 2000 (Hatch was a close second in 2000).
280 posted on
11/06/2002 3:09:02 PM PST by
hchutch
To: Phantom Lord
NO TAX on the 1st $35,000 of income and a flat % for every dollar there after with NO deductions. How do you define income? Would we still need an IRS? Would we still have paycheck withholding? Would we still have payroll taxes? Would we still need to keep records?, get W-2s?, need accountants? What about home mortgage interest deduction? Would it stay flat?...history says no. Would the level of exempted income change? Who would decide how much?
No income tax for me - neither flat nor round. Take a look at some of the stuff here. Methinks you'll come around.
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