A Flat Tax
A Flat-Rate Tax
I am in favor of a flat-rate system of taxation, a system that applies fairly and equally to all, regardless of income. I include corporations and churches in this system as, in some aspects, they are legally regarded as individuals.
The tax rate might be as low as ten or fifteen percent, whatever is needed to finance the government. There would be no deductions, exemptions, or exceptions. This also means no tax credits for any reason. By removing even the possibility of loopholes, all persons would pay their fair share. Who would mind paying if they knew everyone else was paying, too?
There are groups who oppose such a plan. Obviously, anyone making money from the present tax system is opposed to change. The Internal Revenue Service, for example, could be almost eliminated. Tax returns would be needed only for the self-employed and those having income other than wages and salary, such as tips or gambling income. All others might send in a simple affidavit stating that they had no unreported income. The IRS would have little to do, and could be reduced to a fraction of its present size and budget.
Employers would deduct and pay the flat-rate tax as they now do under the present system. Because the percentage would be the same for everyone, it would be far simpler to do. (No W-2 forms for openers).
High-income persons with tax shelters form another group opposed to tax reform. Many of these people and corporations pay little or no tax year after year. Because this group finances many political campaigns, they exert influence far out of proportion to their numbers. Because many politicians are in this category, it is unlikely that they will bite the hands that feed them, or vote away their own favored tax situation. With these groups and the IRS opposed to any real changes in the tax structure, I see little hope of reform, but it is nice to dream.
First of all, great looking site you have here and great post too. I would like to keep up with your posts but having problem subscribing to your rss.
Your problem might be that I have not established an RSS feed . What can I say? I never thought anyone would be interested enough to do it.
You precisely saved me atleast 1 hour of time. I am making a project in this particular topic and your contribute has helped me through one of the topics of my project. I will browse to the other pages now.
Thanks for the comment. Perhaps you can find time to send me what you’re working on? I always appreciate receiving more factual information.
I am in favor of a progressive tax system without loopholes. Creating a tax structure in such away that those who are talented enough can live the American dream and those who are not can survive, seem fair enough. I want to live in a nation where the government helps protect the citizens and in return makes sure all citizens, regardless of talent and ability, survive.
This is not socialism, though I acknowledge it is socialistic.
I have thought about a progressive tax and the one thing I don’t care for is it effectively costs you more to be an American if you are more successful than others. A flat tax as a percentage of your income essentially costs everyone the same.
As for socialistic, most of the things that Americans like was branded as “socialistic” when they were introduced. But ask them now to give up their public streets and highways, free schools, national and state parks, fire departments and police protection and see how loudly they scream.
Hey, I had forgot that I had posted here, and I just saw your resonse. Since that time, I wrote a thorough explantion of why I think progressive taxation is the answer. It is here:
Grandpa’s Coins
After a bit of reading, I’m coming closer to supporting the Fair Tax. A Flat Tax is quite similar, and I believe I would also be in favor of that. Didn’t Jerry Brown propose this in 1980 while running for president? Interesting to see that he has his old job back (And Ahhhnold still has Maria — ummm — no losers that I can see). And maybe he’ll be more effective this time, now that he’s not boinking Linda Ronstadt. LOL
I think you are right. JB did propose a flat tax, as I remember. But considering who benefits the most from the current system, changes seem pretty unlikely. When the wealthy provide the money to be elected to congress and most are wealthy anyway, it’s unlikely they will either bite the hand that feeds them or shoot them selves in the foot. (or maybe a little higher up)