On 02/08/2013 05:29 AM, Richard J. Williams wrote: > > Bhairitu: >> I hate our tax system. It's like they expect everyone >> to be a bookkeeper. But we know that only a small >> percentage has the mindset for that.A flat tax is >> fair to everyone and a flat tax is the best tax code >> to generate the economy... >> > Flat taxes offer simplicity in the tax code. A flat is > a tax where everyone pays one tax rate on income, with > no exceptions. A flat tax system would lower the cost > of federal tax administration - only businesses and the > self-employed would have to interact with the the IRS.
A flat tax impacts the poor more. Say 15% of a poor person would hurt more than a rich person. The way around this is to only have token tax on people who don't yet have an estate worth probably $250K. Above that the flat tax could kick in. But I would also ceiling the estate and use taxes to prevent crazy people from destroying the world because they got too rich. The latter we're already seeing.