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FLAT TAX PRO. Imagine yourself a hard working citizen of the US, working
overtime and advancing in your career. You get punished ...
... of business, anti minimum wage anti income tax and pro fee trade. ... national health
insurance, organic foods, solar energy, nuclear disarmament and a flat tax. ...
... friend to Goldberg) discussed upcoming presidential candidate Steven Forbes’ flat
tax proposal from ... his own political views, being that he’s pro-choice, pro ...
... structuring current debt based on this Flat Dividends Pro: Flat dividend provides ...
LIFO / FIFO Pros: $0.5 million tax deferral Cons: Difficult to implement and ...
... structuring current debt based on this Flat Dividends Pro: Flat dividend provides ...
LIFO / FIFO Pros: $0.5 million tax deferral Cons: Difficult to implement and ...
Submitted by ovxmxdxnxvo on February 23, 2006
Category: Social Issues
Words: 533 | Pages: 3
Views: 96
Popularity Rank: 91,751
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Imagine yourself a hard working citizen of the U.S, working overtime and advancing in your career. You get punished by the IRS because you don’t lead a sedentary lifestyle. What lesson does this teach, are we supposed to be lazy?
The current system established in 1913 by a constitutional amendment, has become outdated. Furthermore, it is an infeasible, unenforceable morass.
Every good economist, conservative or liberal, from Keynes to Lockwood, has agreed on the three principles of good taxation: Simplicity, Equity, and Efficiency
When it comes to Simplicity, we can all agree that the current tax code, with over 480 forms and 8 billion pages of codified law, is anything but simple. In fact, each year, it takes over 5.8 Billion taxpayer hours to comply. In fact, the Flat Tax has often been referred to as the “Post card” tax system because filing returns would be on 2 postcard sized forms once a year.
The second principal is Equity. The current system obviously is unfair because it punishes a person for making good decisions and working hard. This tax would also eliminate the unfair system of multiple taxation. We are taxed when we save, when we buy, when we earn, and even when we die. Moreover, the premise that one should be penalized for making money is un-American and economically costly. Why should one be punished by being taxed at a higher rate because they have an extra job or because they work overtime on Saturdays? Hard work is an American value, and we should embrace it, not punish it.
The final principal of good taxation is Efficiency. Once again, the Flat Tax is the best alternative to the current system, which again fails to meet a principal of good taxation. With a Flat Tax, Administrative costs, Compliance costs, and economic distortions are all reduced. According to Rep. John Linder (R-GA). Costs for enforcing the code would be reduced by 25-35%.
In addition...
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