Flat Tax System?

Question

One of the most recent versions of this that I have heard of works like this. Any and all income made by an individual or married couple up to and including $52,000 per year would be tax free. For every dollar over that amount, approximately 25% would be taken for taxation purposes. Would you support a system like this? Please explain your answer.

Answer 1

A flat tax is a good idea because, it's obvious taxes need to be paid so that there are government services, Police, Army, Navy, Infrastructure, Health Care, infrastructure, etc. If the tax is flat and a realistic minimum is set. Then there's no incentives to cheat.
$52K per seems a bit high. I mean, I'd support that idea, but it'd never get by the government bean counter types. A more realistic figure would have to be proposed. Something on a sliding scale to account for the variation in salaries across the board. Like; tax-free for a single person up to $24k per, a single parent $24k plus $10k per child, a married couple no-kids $50k per, w/kids the $10k addition per child.
These are figures off the cuff, so to speak, but in principle the scale would slide according to your actual situation. Of course, the scale would be indexed to the actual cost of living.

Answer 2

I would have to know more details like would we still have property taxes, and would we still have a welfare system? But, 15% is taken out of my paycheck now, so what is another 10%, especially if the first 52,000 was not taxed, so, yes, I would support that.

Answer 3

Surely you dont think for an instant that the ultra-rich who run this country are going to put a flat tax in place. That would mean they have to pay also, and thats not going to happen. For those of you reading this who dont know: Counting the hidden taxes you pay in the grocery and gas lines, etc, your tax burden is now a little over 50% of your wages...you work january till july just to cover the governments cost of doing business...far and away higher than the paultry tea tax which precipitated the American revolution.

Answer 4

I would prefer to see a single 2% tax on every financial transaction (spent, transfered or earnt) no exceptions.

Sounds low but start doing the figures and see what you come up with. I think it may surprise you.

Now this would be a flat tax system!!!

Answer 5

Yea, how great is that. A flat tax system that's rigged from the get go. Here is the way a flat tax system should be. No matter how rich, poor, many kids, etc., etc., etc., everybody pays the same. Say, 10%. Period.

Answer 6

That's not really too different from the system we have now, and you haven't taken into consideration Social Security and Medicare taxes, which are actually regressive, meaning you stop paying them after your income reaches a certain level.

Answer 7

52,000 sounds a little high and 25% a little low. I don't think that system would yield anywhere near as much as the current system is bringing in.

Answer 8

I would support a flat tax system but I disagree with the plan you mentioned because it would likely not have enough revenue but I'm no expert

Answer 9

I support a flat tax system, but agree with Curt on 10%. However I also belive we need to reform our federal programs.

Answer 10

No I wouldn't. Percent is too high. Proponents say a 6% tax would meet all our needs. It needs to apply to sales too. Used cars etc would not be taxed.