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Would you support a flat 15% income tax?


Would you support a flat 15% income tax in this country? Other than a personal deduction (possibly in the neighborhood of 25k per individual/50k per couple) there would be no deductions.

 

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bankscottage says

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5 years ago
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LandmarkWealth says

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    jh720 5 years ago

    The difference in the treatment of earned vs. unearned income was a Bush Tax Cuts provision. prior to 2001, dividend & capital gains income did not have a preferential tax rate (was taxed ad ordinary income). Favors the wealthy, doesn't it?


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ramkimeena says

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    jh720 5 years ago

    What you state is unethical is the reason why a flat tax will never happen here. Flat tax favors the wealthy.....

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fitmom says

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    Alex J. Reissig (AJReissig) 5 years ago

    I agree that charitable giving wouldn't be hurt if the tax rate is low. And like you said, the amount of time spent on taxes is mind boggling. Hong Kong has a similar tax system to what I have described; their tax form is on a post card.


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Demi (DemiMonde) says

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    jh720 5 years ago

    That's Romney and all the other super rich :)

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flacoinohio says

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starvagrant says

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    jh720 5 years ago

    this is what the GOP doesn't want! It was hard to get the bush tax cuts passed back in 2001 which is why it was passed as a reconciliation (bill with a shelf life). and they pushed hard for the low tax rate on dividend and capital gains income (10%)

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Alex J. Reissig (AJReissig) says

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    Larry Wall 5 years ago

    And some people will just be able to pay their bills. That is not bad, but is it really fair to apply the same rate to someone making $50,000 by working 40 hours a week, to someone who makes $200,000 in interest from investments he inherited?


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John C Thomas (e-five) says

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    LandmarkWealth 5 years ago

    The Gov't never collects more than 15-20% of GDP anyway for the better part of the last century. Rates do not correlate to revenue.


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Old Empresario says

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    Alex J. Reissig (AJReissig) 5 years ago

    This includes all forms of income...it is all taxed at the same rate. And Yes, I would put corporations on the same system, getting rid of all of the special deals (or higher rates) that companies get because they belong to a certain industry.


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Larry Wall says

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    Alex J. Reissig (AJReissig) 5 years ago

    Larry, I include a single deduction, a personal deduction which is 25k/person or 50k married couple. Your 50k earner would thus pay tax on 25k, which is $3750 in taxes.


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