after doing my taxes last night, it frustrates me that it is impossible to calculate the proper withholdings during the year to end up at "zero"... why wouldn't a flat tax system work?
2007-03-15 01:24:17 · 5 answers · asked by john j 2 in Business & Finance ➔ Taxes ➔ Other - Taxes
Mostly because a flat tax would need to be around 27% to generate the same total revenue for the government that our current system does.
The rich would get a major break (their top bracket is 35% and then there's the AMT), the middle class would bear most of the load, and the working poor would be devestated.
2007-03-15 05:01:32 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
We don't use a flat tax system because special interest buttholes spend beaucoup bucks to prevent it from becoming a reality.........................
Estonia (former USSR satellite) has a flat tax system - currently 24% but to decline to 20% by 2009. It will be interesting to see how it works for them.
Instituting a flat tax is really only about a third of the battle. All taxes need to be rolled into the flat tax. These would include all state & local taxes. States would then revenuje share from the feds. Government spending controls are the only way to guarantee that the flat rate won't creep upwards as time goes by. Also, we would have to watchdog government fees. Otherwise, our governments will be charging $5,000 to get a driver's license, or $27,000 to hookup to city sewer.
A flat tax is a nice fantasy but this country will go down in flames before it happens.
2007-03-15 10:35:14 · answer #2 · answered by Huero 5 · 0⤊ 1⤋
The current tax system does not only remove money from us for the government to use, but is also a large welfare system for accounting nerds and a great way to scam or give benefits to some people throw loopholes.
Remember the first thing a priest needs is the opioid of confusion to confuse the masses to retain there power, on the other side the truth is always simple.
2007-03-15 08:32:11 · answer #3 · answered by Anonymous · 0⤊ 1⤋
There are always going to be exceptions to the rules. Plus, why would accountants, lawyers and the IRS want to make your job easier? This will make their job easier which means less people working in those fields which will put more people fighting for your job and if you are not cutting it then they will fire you and give it to someone who was laid off because you wanted a flat tax system.
2007-03-15 09:36:50 · answer #4 · answered by R Worth 4 · 0⤊ 2⤋
Stupidity, mostly. Besides, then we couldn't modify the ultracomplex tax code as a perk for big campaign contributions.
2007-03-15 08:31:04 · answer #5 · answered by k_e_p_l_e_r 3 · 0⤊ 1⤋