jillian
Princess
- Apr 4, 2006
- 85,728
- 18,113
I believe the rich should pay more, too, although as we found out with both Romney and Buffet, their tax brackets are lower than us mere mortals.
However, I would love someone to explain how a flat tax is not equal treatment. If you have a flat tax rate of 20% and you earn $100,000 you pay $20,000. If you earn $40,000 you pay $8000. The person earning $100,000 pays over twice as much tax as the person earning $40,000. Seems fair to me....
Two considerations should give us pause before jumping on the flat-tax bandwagon. The first is the disruptive effect of eliminating deductions, credits and exclusions that benefit the middle class as well as the rich and that play important roles in our livespension contributions, employer-provided healthcare, and deductions for mortgage interest, property taxes, and charitable contributions that support everything from soup kitchens to education to the arts. Second is the role of our mildly progressive federal income tax in offsetting regressive taxes elsewhere in the system.
Flat Tax Is Class Warfare - US News and World Report
Ah, the fine print....
always have to look at the fine print. lol.
i remember the flat tax being called the "help steve forbes keep his wealth tax" by some.