Hi lovetv and villages PL My intent was only to post Laffer's remarks and my interpretation. The issue with the 49% is that Obama would continue entitlements whereas under the 15% flat tax they would pay something.

However having said that my personal conviction is that its all pie in the sky. The issue of taxes, ie, needed revenue to run this country is complex for many reasons including the biggest that some people love to spend other peoples money. I am very leery of any flat tax plan because I believe it will come with many conditions or add ons and many of us will end up paying more. Look what happen in Europe with the value added tax.

My interest and focus is to first determine how my president views the national budget and his rationale. If you have built business or personal budgets , especially business budgets you know that there are a number of ways to fudge after all who wants to come up short if you miscalulated or an unforseen events could wreck your plan. There is a lot of hidden money built into those budgets Bottomline then is how my president is going to cut back on spending and in what areas, etc...you get the picture

I don't believe we have to reinvent the tax system but we do have to make a number of adjustments that returns more money back in the pockets of people. I would say close the loopholes but in reality tax accounts/lawyers etc get paid good money to search out new ones...but we should try. But more importantly the president, really Congress should cut back big time on business regulations. The Sarbanes Oxley Act was an over reaction to Enron and is killing many businesses. The new Consumer Fraud Act (Dodd-Frank) is Sarbanes on steroids.

Unfortunately for voters all we ever get are promises. Its the one reason I favored the Tea Party movement..at least they forced some issues

I hope I didn't under talk you just expressing my humble view of the world of politics.

Personal Best Regards