Flat tax is long overdue
I didn't agree with him on much, but Jimmy Carter got it right in 1976 when he said, "Our income tax system is a disgrace to the human race." After 30 years, our tax system is much worse now.
The big issue is not whether you owe or get a refund; it is that our 67,204 indecipherable pages of tax code are out of control.
While Joe Taxpayer sweats over deductions, special-interest groups enjoy loopholes, earmarks and political favors at our expense. Tax season is a good time to call on our elected representatives to scrap the current system and replace it with something that works: a simple, fair and flat tax code that respects us.
With a flat tax we could save billions of hours and hundreds of billions of dollars by simplifying our code. With no more loopholes, itemizing or worrying about the alternative minimum tax, we could file our taxes in minutes. A flat tax would allow a personal deduction for everyone so families could take care of themselves before paying the government.
As the presidential primary season heats up, I would like to know if the candidates stand with the lobbyists or the taxpayers.
Joyce Krawiec
Kernersville
Comments (3)
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Sorry, Joice - I think you are naive.
Posted on April 21, 2007 9:26 AM
JDR – you are right. Joyce is very rich or very naďve. Anyone with even a basic understanding of math can see that a flat tax doesn’t help anyone but the wealthy. Assuming revenues need to be $59.5K and effective progressive tax rates of 10%, 15%, and 25%, a comparison to a flat tax would be as follows:
Progressive
Tax Rates 10% 15% 25%
Income $20K $50K $200K
Tax $ 2K $7.5K $ 50K Revenue = $59.5K
Flat
Tax Rate 22% 22% 22%
Income $20K $50K $200K
Tax $ 4.5 $11K $ 44 Revenue = $59.5K
The only thing worse for the lower and middle class would be a national sales tax. To see who benefits from these type taxes you only have to look at the people who advocate them. The people who push this legislation are Republication in Government or other legislators who have been bought and paid for by powerful lobbyists. As is quite obvious, this administration and the Republican congress worked tirelessly to lower the progressive tax rates for the wealthy and pushed to eliminate the capital gains and alternative minimum tax, both of which overwhelmingly benefit the wealthy. Unfortunately, the “family values” conservatives have bought into the flat or sales tax proposals advocated by their wealthy brethren, without attempting to obtain the facts. Simple is not always best.
Posted on April 21, 2007 8:21 PM
LastVOR,
Problem is, plenty of folks earning 20-45k per year believe Bush's tax cut for the top 2% is for them!
Our own Little Pussy, the prolific poster who rants against big government from his mobile home with Tahoe parked outside, thinks Bush is helping HIM! You can't make this stuff up. Got to hand it to the GOP, in that they have hoodwinked a bunch of working class people into thinking they are helping the little guy! You can't make that stuff up.
Posted on April 21, 2007 8:42 PM