Then we have a flat tax!!!
2007-12-28 03:25:32 · 4 answers · asked by Paul P 2 in Business & Finance ➔ Taxes ➔ United States
So applying a flat AMT of 28% to everyone (if you keep lowering the limit, then everyone will lose the deduction and everyone will hit the 28%) is not a flat tax? Some people don't understand their country's own tax systems.
2007-12-29 01:29:25 · update #1
Everyone is for the AMT as long as it does NOT affect them!!!!
I think this is a great idea, the only problem is that it will not get passed. As soon as it has the chance of hitting more than 40%-50% of the people, they will start complain enough that someone will put a stop to it.
2007-12-28 03:30:36 · answer #1 · answered by NYC_Since_the_90s 6 · 1⤊ 0⤋
Uh, applying AMT to everyone wouldn't result in a flat tax.
2007-12-28 18:17:48 · answer #2 · answered by Judy 7 · 1⤊ 2⤋
Yeah and then it's 26/28% instead of the 10% the pro-flat taxers think it will be.
And you'll notice that people who owe AMT kick and scream--this ranting won't improve with a flat tax....
2007-12-28 11:31:54 · answer #3 · answered by Anonymous · 1⤊ 2⤋
I like the idea of a consumption tax. The arguments against it doesn't make sense. They say that the rich do not spend all of their money so they will get taxed less. If I gave you $1,000,000 and then told you that you couldn't spend it, then what good is it? If the rich do not spend their money, then it is just like them not having it in the first place!!!
So the poor will have to pay $XXX in taxes, but then get it back with better services and rebates. Just makes sense.
2007-12-28 13:21:53 · answer #4 · answered by Sally M 2 · 2⤊ 2⤋