Re: Flat Taxes.
It would be great if you're making big bucks, because just about all of the flat tax proposals involve a substantial lowering of the top bracket.
The flat tax is just a euphemism, in fact, for lowering the top bracket. Most exponents of the flat tax, with the exception of the now politically marginalized mayor of Oakland Jerry Brown, are conservatives who are always looking for ways for their rich friends to have to trickle down less than they already do.
In fact, we already have a flat tax, when one considers the effect of all taxes, not just income taxes. The payroll tax is a particularly egregious regressive tax that counteracts the effect of the progressive income tax.
My guess is that eventually 1) we'll have a VAT; and 2) social security taxes and funds will be intermingled with general revenues.
The flat tax is a simple idea by and for simple minds.
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