Quote:
Originally posted by PhiPsiRuss
The biggest problem is inequity, but it would turbo-charge the economy. You could probably add 1-2 points of GDP growth on top of what we get now, and do that on a consistant basis.
I wouldn't worry about legal tax evasion, because the wealthy people who want to do that are already doing that.
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You sure Russ?
I think it'd encourage a great deal more savings. Perhaps a flat income tax would be smarter. Just 15% across the board with no loopholes or exceptions.
It'd never happen because politicians love to give tax credits and concessions and such to this group and that. Our tax code is one of the most used and abused things that our government has at its disposal.