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Politics : View from the Center and Left
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To: Metacomet who wrote (248005)3/24/2014 5:34:36 PM
From: cosmicforce  Read Replies (1) of 541951
 
I know the apparent simplicity of the flat tax sounds fair and appealing but it is highly regressive. 10% of a homeless guy's income is a lot more than 10% of a billionaire's in terms of personal impact. A progressive tax that crosses zero at the poverty line and goes to 15% at infinity is just as easy to calculate (15% of anything over poverty line) is far, far, far more equitable. For most people this would be a tax cut. If you are making 2x the poverty line you pay 7.5%. 3x the poverty line you pay 10%, etc. There is a whole cadre of people who would hate this though (H&R Block and all other private tax preparers).
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