Quote:
Originally Posted by DianeM
I think it’s time we considered a flat tax rate for EVERYONE of perhaps 10%
If you earn $100 - you owe $10
If you earn $1000 - you owe $100
If you earn $10,000 - you owe $1000
Etcetera
No deductions for anything.
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That sounds great, if you can afford to pay 10% tax with no deductions. Some of us are paying 20% on our after-deduction "adjusted gross income" and don't have the opportunity to save.
Some are in even worse situations, and not being able to take a "standard deduction" could mean they lose their homes.
That might be okay by you, but are you willing to have those newly homeless people sleeping on YOUR front yard?