Let's Talk Flat Tax
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- NankinYP
- added this
"How is the flat tax a paradigm of social justice, you may ask? Isn't forcing the nurse to pay the same level of income tax as the investment banker immoral? This line of argument has been used ad nauseam by the England's Labour Party and some Democrats. Just a few years ago, when he was still Chancellor of the Exchequer, Gordon Brown remarked, "What is their new big idea? A flat tax. An idea that they say is sweeping the world, well sweeping Estonia, well a wing of the neo-conservatives in Estonia... The millionaire to pay exactly the same tax rate as the young nurse, the home help, the worker on the minimum wage. The price tag--£50bn of cuts in public services."
But the facts would state otherwise.
History has shown that when taxes are simplified, the rich pay more and the government reaps more in revenues. Take the George W. Bush tax cuts, for example. Taxes paid by millionaires increased by some 107 percent in a little more than two years from $132 billion to $273 billion. While his father, George H. W. Bush, learned higher taxes do not reap more revenues. But this applies to the population at large--not just the wealthy. On the bottom end of the earnings scale, current proposals from Mr. Supply Side, Art Laffer, support a 12.1 percent flat tax, but only on those individuals who earn more than $10,000 per annum."
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- groups:
- Community
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- tags:
- Democrats, Republicans, Social Justice, Flat Tax, 1 more
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hcice
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Progressive tax brackets are not a "fair and just tax." In the USA, where everyone is supposed to be equal, everyone paying the same tax rate is the "fair and just tax."
- 2 years ago
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hcice
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tommic
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hcice:
So the man earning 500 k at 10 percent tax pays 50 grand and the guy making twenty grand pays 2 grand That is not fair. Flat tax structure would devistate governmnent tax revenue. Athletes and actors, CEO's and bankers earn in the millions and you think they should pay a flat tax? First they provide no tangable product other than enertainment or the rape of the everyday taxpayer through subsidies. Moronic posting
- 2 years ago
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tommic
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tommic
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A flat tax is in favor of the rich, it is not a fair and just tax. Progressive incremental
tax brackets are the way. The more you make the more you pay as a percentage of your gross income. There is no possible way to ever bring the deficit down with aflat tax. Taxes is the price we pay for a civilized society. Oliver Wendell Holmes. - 2 years ago
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tommic
