The "flat tax" as usually proposed hits the middle class the hardest. If you see a number like 17%-20% you can be sure the middle class is getting screwed by that deal.
The Armey plan wasn't a $30k deduction like you're saying. It was $13k for an individual and $30k for a FAMILY OF FOUR. And like all the flat tax schemes, it eliminated ALL taxes on dividends and capital gains!
So what you have is the poor people who pay no taxes now get to keep paying no taxes, the already wealthy get to keep even more money made off the backs of working people, and the people actually doing the work in this country get further screwed.
And, besides, it's a fantasy. There's just no way you can eliminate all deductions or keep politicians hands out of it. What about someone paying alimony or child support? They don't get a deduction for money they never see? What about someone with a major loss, if they made a lot of money but their accountant stole most of it and fled the country? Once you start adding those things back in that little post card form works its way back to a 1040-sized book.
If you want to get behind a cause, work to make sure the politicians are spending our money responsibly. They won't keep taking it if they're not allowed to spend it. Get them to stop pouring money into Haliburton no-bid contracts and give the few good troops willing to serve for this country the proper equipment and support they need. Stop the billions going into corporate welfare. Stop companies like Walmart who hire workers at slave wages while expecting the government to pick up the tab for their health care, etc.
Re: Don't fool yourself
Member #: 4750
Registered: 1996-2001
Posted:
529
Name:
Keith
Occupation:
Retired
Location:
NY
Personal:
late 70s
Experience:
~52 years
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