Quote Originally Posted by GeoFisher View Post
Progressive flat tax, and ZERO deductions.

No housing deduction.
No kid deduction
No earned income credit
No college deduction

NONE.

Anyone making under 20k NO taxes
Anyone making 20k - 40k 10% taxes
Anyone making 40k - 100k 20%taxes
Anyone making 100k - 500k 25% taxes
Anyone making 500k and above 30% taxes.....

And then maybe a 10% consumption tax on all goods except for food.........

NO TAX on anything else......PERIOD.

Later,

Geo
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Doesn't this look a lot like what we have now?.. I'm surprised you would advocate a larger percentage tax rate for folks at the top... Would your proposal also include folks whose income is primarily capital gains as that would seem to double their tax rate... I have never given any consideration to a flat tax proposal because everybody wants to get rid of the irs totally and collect the taxes as a national sales tax of some kind and that just seems wrong to me to put more of the tax burden on folks who can least afford it... I never did understand the 'earned income credit' it seems to me it is mostly wasted tax dollars.