Flat tax pros and cons
Posted in the Moorcroft Forum
Since: Apr 10
#1 Apr 20, 2010
Flat tax pros and cons. I'll stat with the pros feel free to enlighten me.
Pro-20% flat tax on all goods purchased no income tax sound like a winning situation everyone who makes a purchase (including illegals) are paying their fair share
Since: Sep 07
#2 Jun 19, 2010
Pros - efficiency of the tax system i.e. simple, understandable, easier to enforce compliance.
Elimnates or reduces need for accountants, tax prepartion & legal service professionals. Based on consumption i.e. use tax or European VAT tax. Incourages stock market & capital investment. Broadens tax base. Eliminates tax on production & capital distribution.
Cons - Dscourages purchasing & real good consumption, Dpresses real estate values. Further concenates wealth. Reduces incentive to save, European VAT tax system, removes incentave to give to charity, Shifts tax burden to wage earners.
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