What does everyone here think about a Flat Tax?

[Southern Senator North Carolina Yankee]

Well in my opinion I think its better because you don't engage in class welfare but you still have wealth redistribution. 20% of 500,000 is $100,000, 20% of 50,000 is 10,000. So the wealthy will still pay more by a factor of 10. It would make it easy to comply with and reduce the tax gap, as well as reduce the burden and cost of compliance on small businesses which can then be reinvested and used to create jobs and expand.

I would be fine with"flatter" taxes. With fewer brackets, Three at most.

40,000-74,999 15%
75,000-174,999 25%
175,000- and up 32%

First $39,999 a person earns is tax free for people making less then $175,000.

It also has an extremely positive effect on the economy and depending the rest of the tax code (do you encourage debt and speculation or investment and productivity) and other policies (energy, education, etc) you would see tremendous economic growth.

[Southern Senator North Carolina Yankee]

Well in my opinion I think its better because you don't engage in class welfare but you still have wealth redistribution. 20% of 500,000 is $100,000, 20% of 50,000 is 10,000. So the wealthy will still pay more by a factor of 10.

You really don't understand the way things work, do you?

Yes I do understand the way your form of "Progressive Taxation" works. I choose to not give it any merit. You would still have the rich paying more with a flat tax, however 10x is not enough it needs to be 30x and 40x and even 100x to satisfy you people. I think it makes perfect sense that if a person makes 10 times as much they should pay 10 times as much and a flat tax does that. The current punitive tax code is class warfare on steroids and easily taken advantage of by the special interests who can carve out exemptions and special deals for there favored interests.

We should keep our progressive taxation, but I would be a fan of reducing deductions. See the 5 worst deductions here. Although there has to be some other deduction worse than health insurance.

http://www.sodahead.com/united-states/5-worst-tax-laws-and-why-they-wont-change/blog-301295/

I agree with the second part of your statement. A lot of the deductions, exemptions, credits, etc shouldn't be there. We should remove them and use the saved money to drop the overall rates.