I found this article on the rapid adoption of the flat tax to be very interesting. It has been several years since the United States seriously considered going to a flat rate tax. I remember Dick Armey the flat tax man very well. My thoughts on a flat tax are twofold. First, anything is better than the crappy system we have with more than 17,000 pages of bureaucratic mumbo jumbo to complicate it. Second, I do believe the flat tax would spur economic growth. It is attractive for one other reason, we could practically fire the IRS! Less bureaucracy! That's always a plus. Of course, since the number one rule of bureaucracy is to expand bureaucracy, we will see how far this idea goes.
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8 comments:
Yes, of course. But it rids us of all those dang tax exemptions that the incredibly wealthy and the major corporations get so they don't have to pay taxes.
Well, that's wierd, I had left a comment on this earlier, but it doesn't seem to be here. Maybe I typed in the code wrong or something. Anyway, any job yet? Let me know. Also, Chris called tonight. Yay. It didn't go so well. I, as usual, said nothing of worth the entire hour on the phone. Grrr, I hate it when I do that. But, other than that, it was so good to hear from him. :)
No job yet. Still looking. Keep praying for me.
I am glad Chris called. And I am sure he did not mind it that you think you said nothing of value. I am sure he was just happy to talk to you. He's probably faced with such seriousness all the time that the opportunity to goof of with someone he cares about would be really helpful.
Lest we forget! We cannot sell a flat tax program without stressing the existance of tax refunds for those who are otherwise burdened. Indeed, without refunds for dependants, unemployment and low income, the system would simply be wrong. It would be ideal, but we can't sell it without reassuring the lower classes that they will not be paying as much as Bill Gates, as may be the assumed prejudice against the concept.
I don't see how anyone could think they would be paying as much as Bill Gates in a flat tax system. If you do not make as much money as Bill Gates you cannot pay as much. It goes by a percentage of how much you make. The percentage is uniform. That is the difference. Unless Germany and Britain adopt it though, I doubt the U.S. would try a flat tax.
I know! I'm just illustrating the point, that there is a lack of understanding on the system. The fact is, the American people are afraid of change (after turning down any ideas of social security reform) and, even if the system is dramatically better, people must have a comprehensive summary of the plan. You know as well as I do that it will take a miracle to enstate a flat tax.
China would have to go to a flat tax system. Then the U.S. would freak out and switch over real fast. ;O)
True, but I'll hold out on that wager!
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