[Rhodes22-list] Flat Tax Or Flat Tire?

[Tootle]

Bill:  
     If you go back and read fellow New Yorker's original proposal, that is
Steve Forbes, the intention was simple to understand.  First there would be
a minimum income level, see Brad's statement of $40,000.  Then there was an
adjustment for number of dependents.  That was in there to take care of
Rummy's concerns.
      After the base level was establish, all income was taxed at a single
rate.  The original proposal had no deductions for mortage interest nor
medical expenses.  The real estate and banking lobbies went ballistic. 
Liberals ( you know who I refer to) said the taxes will fall on the working
people.  Go and look at the Wall Street Article that Brad posted about
Kerry's wife's tax rate.  
       If you had no deductions and expemptions as originally proposed the
tax shelter industry would have to get a real job.  You know, like write
books.
        There is nothing hard to understand, unless you are against it.
http://www.ctj.org/html/forbedis.htm

http://www.ctj.org/

Ed K
Greenville, SC, USA




Bill Effros wrote:
> 
> Slim,
> 
> There have been a dozen emails in this thread talking about a flat tax, 
> and how much better it would be, but I have never seen a definition that 
> makes the slightest bit of sense.
> 
> People are always in favor of taxing schemes that cost them less while 
> bringing them a greater percentage of the tax revenues.
> 
> The flat tax is no exception.
> 
> Everyone is for it, but no can can state how it would work.
> 
> Bill Effros
> 
> Slim wrote:
>> Dammit, Bill, I'm a musician, not a miracle worker!  (Star Trek
>> reference)
>> I suspect you want an answer that is more detailed than I can provide.
>> You're far more qualified to answer than I so why don't you take a stab
>> at
>> it?
>>
>> Slim
>>
>> On 1/14/07 1:00 PM, "Bill Effros" <bill at effros.com> wrote:
>>
>>   
>>> Slim,
>>>
>>> How would this flat tax work?
>>>
>>> Bill Effros
>>>
>>> Slim wrote:
>>>     
>>>> This may come as a shock but I agree with Ed--sort of.  When someone
>>>> works
>>>> hard, starts a business, creates jobs, successfully produces goods or
>>>> services and tows the line of the American Dream, the more successful
>>>> he is
>>>> the more he is taxed.  It's to the point where he's expected to cough
>>>> up
>>>> half his money.  Half!  Further, he doesn't have to be Uber-rich to
>>>> reach
>>>> that tax bracket.  And that's just income tax.  It's a wonder any small
>>>> business can make it in Minnesota where the cost of doing biz is higher
>>>> than
>>>> most.  In fact many small and large businesses are indeed pulling out
>>>> and
>>>> setting up shop in Wisconsin--still high costs but not as high as MN.
>>>> People complain about tax breaks for the "rich" without considering
>>>> their
>>>> tax burden in the first place.  Do we really need to put Willie Nelson
>>>> behind bars because of tax evasion?  He went bankrupt digging himself
>>>> out.
>>>> After all, hooch (biz expense) is very expensive these days.  Should
>>>> Willie
>>>> really owe the country millions of dollars or does the country owe him? 
>>>> In
>>>> Ireland, for example, artists (in the broad sense of the word) pay no
>>>> income
>>>> tax at all.  But I digress.
>>>>
>>>> Couldn't we end all the bickering by changing to a flat tax for all? 
>>>> At the
>>>> very least it would make for a much easier tax form and much less work
>>>> for
>>>> accountants, auditors and the IRS which would save everyone mucho
>>>> dinero.
>>>>
>>>> Slim
>>>>
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>>>>
>>>>   
>>>>       
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