Quote:
Originally Posted by OrangeBlossomBaby
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?
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Do you not get that you would no longer have to worry about 20% rate on after deductions because there would be no need for deductions. A flat tax makes perfect sense to me and would basically be the new payroll tax. If no one has deductions - and I mean no one - it’s a level playing field. The lesser paid is in the same boat as the mogul. Works well. If you earn less, you pay less. If you earn more, you pay more.