Would an over-night conversion to a fair and simple tax code dramatically change the pocketbooks of the wealthy and their corporations, or the middle and lower classes?
Fair and Simple.
- Thread starter AVG-JOE
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Shame the devil and tell the truth now - ass-u-me-ing a fair tax code, and ass-u-me-ing a zero net change in tax liability for lower-middle class and middle class taxpayers, the wealthy and their business entities would most likely pay more. A lot more.
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Does that simple fact tell us anything?
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Should it?
LordBrownTrout
Diamond Member
I'm certainly against the current progressive code. When you say fair tax, what is your definition? 5, 10 percent across the board? No deductions for anyone?
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The fairest tax proposal I've ever heard of is a national sales tax of 4% on everything consumed by individual or business and a national personal income tax of 12% with one $35,000 deduction for all.
Beyond the sales tax, business should be left to the states to tax, as they are the first line of response when a corporation gets messy inside their border.
The beauty of simplicity: If the national nut remains uncovered or the coffers overflow at 4 and 12 over 35, simply adjust either or both of the percentages and it remains fair.
Beyond the sales tax, business should be left to the states to tax, as they are the first line of response when a corporation gets messy inside their border.
The beauty of simplicity: If the national nut remains uncovered or the coffers overflow at 4 and 12 over 35, simply adjust either or both of the percentages and it remains fair.
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