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Originally Posted by pan6467
In my opinion? I believe a flat tax of 17-20% with deductions only for families WITH CHILDREN that make under $100,000, and for families without children $30,000.
No loopholes, no deducting interest rates (nice scam but it allows people like my father who owns several properties a nice cut in and of itself).
I also believe if we make it 20% that 3% goes to pay down the debt and by constitutional law can only be used for that purpose. And once the debt is paid down the tax drops to the straight 17% (that's the number I have heard bandied about a lot in public debate).
I also believe that Capital Gains taxes, luxury taxes and estate taxes should go up also.
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I don't necessarily disagree with you on a flat tax. But if your dad, who makes $5mm a year, pays half of that in taxes, how can you or he say he is not paying his fair share? 50% is a hell of a lot more than the 20% you proposed.