Thursday, April 12, 2007

Flat tax now!

The US tax code is SIXTY THOUSAND PAGES.  Anyone who itemizes taxes spends an AVERAGE of 28 hours figuring this all out.  That's 3 days worth of work that's not used to contribute to the nation's economy.  Isn't it incredibly obvious that we need a flat tax?

The argument by "progressive" tax advocates is completely ludicrous.  If you make more money, YOU PAY MORE under a flat tax!  Let's do an example:

Bob makes $100,000 a year.  The tax rate is 20% flat.  He pays $20,000 in tax.

Sally makes $500,000 a year.  The tax rate is 20% flat.  She is very smart and has worked harder than Bob all her life.  She pays $100,000 in tax.  That's as much as Bob makes total.  That sure seems to me like it punishes Sally plenty for making more.  But that's not good enough for "progressive" tax people.  They say Sally should pay 35% or more.  35% of Sally's $500k is $175,000!  That's insane!  We should not punish people for being successful any more than we are.

Time to KILL THE IRS and institute a flat tax.  Our current system is the very definition of insanity.

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