Flat tax ! Can I get an amen ?

[CoffeeGuy]

I doubt it will ever happen. But I would support it, if it were not more than 10 -12%. No deductions for anyone. The wealthy, the poor, the middle of the road, all pay the same. But the government wont go for this. They want you to stay confused.

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/ Moderator lordsmurf

[AlecWest]

I doubt it will ever happen. But I would support it, if it were not more than 10 -12%.

I'd go for it if it was an "inclusive" sales tax ... and if it encompassed ALL taxes on income. If I get a monthly paycheck for $5,000, I want to see $5,000 (minus deductions I'd choose to make for personal reasons, ie., health/life insurance premiums, etc.). And, if I go into a store and see an item for $50 bucks, I want to pay only $50 at the register.

But, it would have the same effect you suggest. People who can only afford a Hyundai will pay a percentage of it's price ... but people who can afford a Mercedes would pay the same percentage.

An added advantage? Politicians would have an added impetus to keep the economy strong. Since tax collection would be a constant process instead of a yearly process, a downturn would hit pet projects quickly. But, like you said, I doubt if it would ever happen.

[shelbyGT]

Can't say I'd agree with it, but whatever...

[videopoo]

Flat tax.....F That!!! Own a business and you'll change your story. In fact If you want to take advantage of the tax system start a business - any business... a great tax shelter. Dont give the government more than they're worth and they're not worth 10-12 % of your income.

[lordsmurf]

No politics.