<<Steven Forbes, somewhere, has some great statistics about our tax structure. The first estimate that I ever heard concerning our tax liability via a flat tax structure was 17% for everyone.>>
Actually, Dick Armey's Flat Tax Proposal has been around for 10 or 15 years but can't get anywhere because of all the vested interests. His proposal would have no deductions, but would have personal exemptions whereby a family of 4 would be taxed at 17% ON EARNED INCOME OVER $38,000.. The first $38,000 is tax free and you pay no taxes on interest, dividends, capital gains.
It would take less than TWO MINUTES to subtract 38,000 from your income and multiply by .17 to calculate your taxes.
Can you see why vested interests don't want the flat tax to go through - tax accountants, investment advisors, tax attorneys, etc., not to mention lobbyists, the IRS, and government bureaucrats making a nice living off the complexities of the current tax code, and people who are managing to pay little or no taxes now as a result of special deductions.
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