I'm totally opposed to it. I came to that conclusion by rational analysis of what a flat tax would do. Here's my justification in a small nutshell.
The tax rate would need to be around 25% to 27% to generate the same revenue that the current graduated income tax does. Only the very wealthy pay rates higher than that so they are the only ones who would get any benefit from it. When you shift the burden from one group, another group must pick it up. So if the wealthy pay less tax, the poor and middle class would have to pick up the slack.
Most working poor pay no income taxes at all and many get additional help in the form of the Earned Income Tax Credit. A single working parent with 2 kids earning $16k a year has about $19k in cash flow to survive on. With a flat tax, that would plummet to less than $13k. She and her kids would be on the streets in a few months after the implementation of a flat tax. All so some wealthy fat-cat could get a tax break. No thanks!
If you think a flat tax is such a great idea, run the numbers with your own tax return -- remember, it would have to be 25% - 27%. If you make less than about $400k a year, you'll pay MORE tax with a flat tax. And if you make less than about $50k you'll pay a LOT more with a flat tax.
2007-07-04 21:04:42
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answer #1
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answered by Bostonian In MO 7
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I think a flat tax is a terrible idea. It would hurt the poor most, also hurt the middle class - would be nice though for the upper class.
Wouldn't do anything to tax the underground economy, a major problem.
2007-07-04 10:31:07
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answer #2
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answered by Judy 7
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I think many taxpayers would be for it if they would pay less tax, and opposed to it if they would pay more tax. The flat tax neglects one important consideration. A person making $16,000 and paying 15% ($2,400) now has to live on $13,600 while the person earning $160,000 and paying 15% ($24,000) now has to live on $136,000. I believe some form of progressive taxation is reasonable and better.
2007-07-04 10:27:47
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answer #3
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answered by skipper 7
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I've got news for you. Paying tax in the USA is voluntary, the 12th amendment was never ratified. If you stop paying and the RSA take you to court ask them to produce proof that the amendment is legal. There are dozens in the States not paying and nothing can be done about it. Look it up, you may be surprised.
2007-07-04 09:42:57
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answer #4
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answered by tucksie 6
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I'm for the fair tax. I think it's a good idea. Certainly better than our current system which overtaxes all of us.
2007-07-04 09:39:28
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answer #5
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answered by Anonymous
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I would be all for it. And I got there from years of paying income taxes.
2007-07-04 09:39:23
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answer #6
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answered by desperatehw 7
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i'm all for it you can't cheat....or be cheated
the current system is killing the small business owners like myself. also everyone would have to pay thats fair in my book...
2007-07-04 09:51:58
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answer #7
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answered by catgina 2
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