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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
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To: Colin Cody who wrote (1045)4/16/1998 5:45:00 PM
From: Douglas Webb  Read Replies (1) of 5810
 
If the only variables that Congress can fiddle with in a flat tax system are: standard deduction, tax rate, and what 'taxable income' is, it seems like there's a lot less room for social engineering than the current system allows.

This assumes, of course, that the law is written so that they absolutely cannot have more than one standard deduction or tax rate. If they're allowed to change that, we'll be right back where we started in no time.

So, it seems like the only thing they can really play with is the definition of taxable income, but a flat tax law can be written which defines 'taxable income' very clearly and solidly, which would prevent (or at least impede) Congress from changing it.

Which means that a flat tax would drive Congress towards more spending bills/bureaucratic regulations and punitive federal laws. At least we'll have more time to deal with these new impositions on us.

Doug.
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