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Old 04-03-2005, 06:25 AM   #2 (permalink)
mazagmot
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Location: S. Korea
The definition of flat tax is that everyone pays the same percentage income tax, which is what yours isn't as you state in your second sentence. If the guy making $10k a year pays 15%, then the guy making $100k pays 15%, and so does the guy making a $1million a year. The rich are the ones peeved about our current progressive tax structure and are the ones agitating for a flat tax since currently a person making $10k pays %11, a person making $100k pays %22, and a person making $1mil pays %33 (rough figures taken from form1040 for filing single, no deductions or tax breaks).

The reason that Congress doesn't enact your proposal, or something similar, is becuase they are people, too, and most, if not all, are in the top tax brackets. Add in the fact that they *are* working for political goals, and you get what we have here, which is they way they want it.

If you figure in sales taxes, I wouldn't be surprised if the actual amount paid in taxes, as a percentage, is higher for the bottom 10 or 20 % of our population than it is for the top 10%. They can afford accountants who can find all the loop holes and offshore bank accounts/corporations/tax shelters.

Don't get me wrong; I am completely in favor of simplifying our tax code so that the IRS auditors can understand it and all the citizens can understand it, which would, I hope, make it easier to enforce with fewer people, and make it easier to pay correctly. This will let us save money on IRS auditors, IRS audits, and the paperwork associated with unpaid and overpaid taxes.
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