The only argument I consistently see against a flat tax is that it unfairly burdens the poor. Implement a Flat Tax, with a 1 time deduction that is the same for everyone, for example, everyone pays 20% with a $40,000 deduction. This eliminates all loopholes, treats all income the same and provides the same basic protection that a progressive tax provides but without the complexity or class warfare. In this example, anyone making $40,000 or less, would pay no taxes. A person making $100,000 would pay 20% on $60,000 which would equal $12,000 or 12% of their income and a person who makes $1,000,000 would pay 20% on $960,000 which equals $192,000 or 19.2% of their income. The more money you make, the closer to the 20% you pay. Taxes are easily calculated and the tax code shrinks to a single page.
Fairness remains a lauded feature of the flat tax. For example, a taxpayer who makes $5,000 pays the same tax rate as someone who earns $500,000. The taxpayer making $500,000 pays more taxes simply because the income is greater, however, this taxpayers pays an equal percent to the $5,000 taxpayer. This tax system does not discriminate based on income level; everyone pays the same percent of income.
The government exists to protect our natural rights, not to make life "fair". An equal burden on all taxpayers is a set percentage. At the same rate, the rich will still pay substantially more than the poor. So long as we have an income tax, everyone who earns an income - no matter how big or small - should pay taxes. The idea that the "poor" in America couldn't afford a small, low rate even after claiming the basic deductions for household members, mortgage, state/local taxes and charitable giving, is a lie when those same people can afford cell phones, multiple vehicles, big-screen TVs, satellite dishes, pets, and assorted other luxuries not seen amongst the truly poor in the rest of the world.
I definitely think that a flat tax for the United States is a good idea. Right now 53% of people pay federal income taxes and with the flat tax it could be more evened out. There would be no more filing taxes and people who don't work and keep having kids would have to pay their fair share as well.
A Flat Tax diminishes the tax burden for the 53% of Americans that pay federal income tax. It creates accountability among all Americans by instituting a policy where everyone truly pays their fair share. A Flat Tax would also streamline our Federal Tax Code and eliminate wasteful government spending by reducing the size of the IRS. A Flat Tax would also aid business through the elimination of the Payroll Tax.
Nobody keeps their wealth forever. Wealth creation benefits everyone eventually. The government cannot create wealth (it can only print money - which destroys other wealth by making it less valuable). So wealth creation is done by a special few in the private sector. Give them a dollar, and they'll turn it into $3 out of thin air (by manufacturing low-value raw materials into high-value goods, or listing an idea for millions or billions in the stock market). That wealth one day flows to all, or immediately flows to those hired by the wealth creators. Do you want to give $1 to a wealth creator to multiply it, or to someone who will blow it on sneakers made in China? Do you want to abuse and punish the wealth creators and drive them elsewhere, or give them a fair tax that encourages them to do their golden work here, where it will create high-paying jobs?
Flat Tax eliminates the confusion and complexity in our tax system. It also makes everyone pay the same interest rate on their revenue. I don't believe that poorer people should pay a lower percent and wealthier people should pay a higher percent. This is because we all use the government services equally regardless of our income. People against this argue that it's unfair and that government would not be able to get enough funding from taxes to run their operations.
A): This is not valid
B): Government is very inefficient and will have to run on tighter budgets like businesses.
In conclusion, the Flat Tax is very effective alternative to our system.
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You can't tax the poor more, And you cant tax the rich more. Get it? There is no far way to do it but taxing everyone the same amount because if your taxing the rich more than they will go poor and the poor will be rich, Yes some people can't work but they are different
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The flat tax is clearly punitive for the poorest families and a drop in the bucket for the rich. The idea behind paying taxes is to reinvest in the country that allowed you to have the opportunity to become successful. The real reason that people resent paying taxes is they don't trust the government to spend their money wisely. How about significant tax reduction incentives for the wealthy to fund public goods and services---roads, infrastructure, protection of national parks and lands, funding for inner city schools? I think it's fair for the wealthy to pay a lot, rather than hoarding wealth in offshore accounts. But I also think it is fair to give them some say in how their money is spent.
First off people view their deductions as a tax, Flat Tax will not remove SS, Welfare, Medicare, etc from the deductions. Secondly our government will not keep the rate the same, with each new elections they will raise the flat tax percentage claiming they need more money. Third our political leaders started the tax and can remove it any time they want. So why don't they? They need the money. Once we allow them to make income tax a true law then there is no stopping them from taking everyone's money.
A flat tax is not a good idea. It is the same tax rate regardless of income. For poorer individuals, flat tax is more hurtful because now they relay on less money than someone who makes more income. Because of the consequences for lower income families, the flat tax is a terrible idea.
The thing about taxes is that they should be evenly spread out and not favor the rich over the poor. An example would be sales tax which percentage wise is significantly higher for people under the poverty line than for other members of society. Progressive tax rates could help. We just need to redo all tax code.
A flat tax seems fair, but it's actually regressive (i.e., punishes poorer people more than rich people) in practice. This is because poor people spend a much greater percentage of their income on various necessities of life, so taking away the same percentage of their money as would be taken from a rich person is actually a much greater burden. The real problem with 47% of people not paying taxes is that nearly half of the population is poor!
Flat taxes are not as fair as they seem. A progressive tax where the rich pay more is better, because the rich have more ways of dodging taxation to begin with. This system enables the lower classes to keep more money without threatening the overall revenue. With a regressive tax, or flat tax, we would see the rich keeping far too much wealth.
Basically, what a Flat Tax does is, well, diminish the burden for the 53% of Americans who do pay federal income tax, and place it mostly on those who don't. Or, at least, it evens out the burden, ideally. The problem with that is that the majority of that 47% of people who don't pay federal income tax, don't pay it because, simply, they don't have the money to do so, and at the same time be able to live, you know, a certain standard of life. And while sometimes the "fairness" card is sketchy to play, it's ridiculous that an office coordinator making $35,000 annually should have to pay, say 10% in federal income tax, while a Chief Executive Officer who makes $3,000,000 annually should have to pay the same. It takes a miniscule burden off the shoulders of the wealthy, and places a huge burden on the shoulders of the poor and middle class. When the federal government has the ability to tax high-income earners in the U.S. at a higher rate than a poor or middle class worker/non-worker, it should happen.
Our tax system is more than just Americans paying taxes. The tax industry is a multi~billion dollar industry, tax lawyers, accounts the IRS, ect. Are all individuals who have an education in the current tax law and code, by elimimating deductions you are forcing those individuals to no longer being able to work. Thousands of jobs will lost and suddenly oir GDP falls by 20 percent and then our country falls into a recession. There is also little evidence to support a flat tax as either a good or bad idea. There are a handful of African countries that have a flat tax rate that have all gone essentially bankrupt, these however arent the USA its a handful of African countries that are possibly corrupt. But since most economists think it will cause a recession because we would lose a huge American industry I think most people should be inclined to believe them.
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A flat tax takes money from the poor used for basic living essentials while giving the extremely rich people more discretionary income to spend on imported goods that are destroying the U.S. economy. Also, a flat tax will severely increase taxes on the middle class to make up for the lost tax revenue from the highest tax brackets. If each taxpayer's effective tax rate is not enough to balance the budget, then the flat tax rate is going to be higher. Promises are being made about a low flat tax rate, but that is just spin to make people think their taxes will go down.