A flat tax of 15 percent, or less, is sufficient to fund any reasonably sized government. The people you reference would see their tax liability reduced. With a flat tax, everyone paying more than 12 to 15 percent in taxes will see their taxes reduced. I wonder what percentage of people actually paying income tax to the federal government that represents.<quoted text>
The flat tax would get rid of all deductions. Just getting rid of the deduction for mortgage interest alone would be very difficult when you have 60 percent of Americans who are homeowners and who depend on that deduction. The deduction is capitalized into the value of homes. If you lose the deduction for mortgage interest, housing prices would fall, and how popular would that be? Then, getting rid of the exclusion for health insurance – that would greatly increase taxes on workers or businesses. It’s all just a pipe dream.
Perhaps you should look further into the concept of a flat tax and educate yourself on it.
The problem in reality is, the 47 percent currently letting the other half of the population pay all the taxes will have to start paying their fair share of taxes.
A crackwhore gets 10 dollars, she coughs up a buck fifty or so to the federal government.
That's the only fair tax.