Quote:
Originally posted by ktsnake
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.
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I'm not sure about the numbers. Just a guess.
It would increase savings, and that's always good for the economy in the long-run.
Flat tax with no exceptions? I'd support it, but you're right about political support. A more realistic possibility would be a single tax rate with limited exemptions and deductions. Jerry Brown proposed that the last time he ran for President.
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