Do you oppose a U.S. Flat Tax?

Question

If so please explain why

Redwine> not homework...curosity...anyway I will just assume you have no reason just like the sound of the words "Flat Tax"

Answer 1

Yes. I did a research paper on it a few years back. The flat tax lower the percentages that higher income people pay and raises the percentages that the poor pay by making the rates the same. Under the graduated tax system that we have now, poor people pay lower because thier money doesnt go as far. On paper however, flat tax looks good because it stimulates the economy. High income brackets have a lot more loose cash to spend so the rich get richer and the poor get poorer.
A big arguement in favour of a flat tax is that frivolous deductions will be done away with, but in the 80's deduction were simplified and it's already worse than the pre-Reagan era. There is no bar against deductions in the fundamentals of a flat tax.
Russia is a good example.

Answer 2

Yes. It is regressive. Poor and middle class people would have their taxes go up while the rich would have their taxes go down.

A few years ago, one Presidential candidate (Steve Forbes) proposed a 17% flat tax. Economists said that it would have to be closer to 21% to be revenue neutral.

A 21% tax is great if you in the 35% tax bracket but not so good if you are in the 15% bracket. Plus, many working poor people receive the Earned Income Tax Credit effectively giving them a negative income tax rate.

Answer 3

Yes, becaus they will still be giving those with children tax credits for what the paid in taxes based on the children they have. This will still be another unfair tax credit since they will NOT be paying their fair share of the taxes.

http://i114.photobucket.com/albums/n268/fuzzynuts_2006/TaxExemptions.jpg

Answer 4

Tires are expensive enough already. I don't want to pay another tax when I have a flat!

Answer 5

No, don't oppose, but do your own homework.

Answer 6

We need a VAT