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To: At_The_Ask who wrote (67439)	2/26/2003 10:32:31 AM
From: Moominoid	Respond to of 209892

I like the flat tax concept a great deal. There will still be a whole mess of deductions which are allowed or not given corporate, individual etc. status... But if they can get rid of all the silly income limits on this that and the other, AMT, and limited deductions and credits and just make things a little simpler. A basic tax free zone at the bottom and one rate above that makes a lot of sense. Australia too has various low income credits that most low income people probably can't work out and fill up a lot of the basic tax form like the earned income thing here. I keep rethinking my views on tax. Whatever I come up with has some little problems. But we seemed doomed for just more complications. For example the Bush dividend initiative is just much more complication... My latest thought is to keep the corporation tax and just totally abolish taxes on dividends and CGT on financial securities (maybe keep it on real assets?). That is when I started thinking about inflation aspects. It is still unjust that the inflation adjustment component of interest is taxed. Bush's plan makes complications because he doesn't abolish the CGT and still wants to tax foreign dividends.... David