A flat tax is nothing for the rich to pay but disastrous for the poor.
I'm for a progressive tax like there was during the Eisenhower era. It
discouraged money hoarding. The investment transaction tax is also a
good idea. Stop sucking up to the money hoarders, Willy. You keep
saying the rent is too damn high. Go figure.
On 02/26/2014 08:47 AM, Richard J. Williams wrote:
On 2/26/2014 8:18 AM, doctordumb...@rocketmail.com wrote:
> If the rate were raised to just 20% on their profits, we would no
> longer have deficit spending, and the 1% of the 1% would never feel it.
In general, I'm opposed to taxation on income and property, but I'd
consider supporting a consumption tax. But, a "flat" taxes offer
simplicity in the tax code, which has been reported to increase
compliance and decrease administration costs. A true flat rate tax is a
system of taxation where one tax rate is applied to all income with no
exceptions. Go figure.
According to what I've read, the flat rate would be applied to all
taxable income and profits without exception or exemption. It could be
argued that under such an arrangement, no one is subject to a
preferential or "unfair" tax treatment. No industry receives special
treatment, large households are not advantaged at the expense of small
Moreover, the cost of tax filing for citizens and the cost of tax
administration for the government would be further reduced, as under a
true flat tax only businesses and the self-employed would need to
interact with the tax authorities. That's what I think.