"Flat tax is regressive. It penalizes the little guy more than the big guy."
How?
Read Dick Armey's proposal for deductions.
ctj.org
"A better system would be a progressive system with higher rates of tax at the higher end."
Basically, the same disaster we have on our hands now except you are leaving significantly more of us with just enough left to shop exclusively at our nearby WalMart, where "made in China" labels are fast becoming redundant.
"In other words remove the deductions but lower the tax rate significantly, especially on the bottom end. This would put an end to all the tax code crap and put an end to the guaranteed CPA employment act, other wise known as the tax code."
After abolishing deductions, you have a flat tax.
[ed] Ok, forgot about Estate taxes and business losses. I don't have either to worry about.
The sad state of affairs is Bill Clinton proposed just over 100 changes to the Federal income tax code aimed at the estimated 30% of your fellow Americans who failed to take advantage of these and other "enhancements" correctly and were Audited by the IRS.
I'm underwhelmed.
While companies and wealthy Americans are avoiding the tax man, the IRS has concentrated a lot of energy lately cracking down on the country's working poor, Johnston explains. It all involves the Earned Income Tax Credit, which pays up to $4,204 to couples or single parents making poverty-level wages. With orders and extra funding from Congress, the IRS audits close to three times as many earned-income credit recipients than people making more than $100,000.
hrblock.yellowbrix.com;
A better system is starting over, from scratch.
While a flat tax might not the ultimate in fair taxes in your mind, it could be the most significant accomplishment of this generation.
fairtax.org
Now, back to the subject at hand.
Kerry
Jobs
How? |
