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Where that sounds like a good idea, I think the reality would be grossly unfair. First of all, what's an income? Is it just money I earn? What about interest (p
by stinkytaco 16y ago
Where that sounds like a good idea, I think the reality would be grossly unfair. First of all, what's an income? Is it just money I earn? What about interest (paid and earned), capital gains (money I don't actually have, but earned) or government benefits? You're already making exceptions defining income.
Second, there's the practical matter of people/business who operate on extremely thin profit margins and if you could even practically tax them.
I think in reality a flat tax has great benefits to the wealthy but gets progressively more burdensome as you get poorer. After all, the more money you have, the more money you can make, thus making the "flat tax" exacerbate the gap between rich and poor.
- JoeAltmaier 16y agoAnd its not grossly unfair now? A flat tax could be modified by a minimum income, age exception etc. But the trick is to make the calculation dead simple, and unavoidable. So thousands of smart people turn their attention to something else, like creating real value for instance.