Showing posts with label flat tax. Show all posts
Showing posts with label flat tax. Show all posts

Thursday, September 25, 2008

Counting Eggs

Saying the complexity and loopholes of our current tax system have made it unfair and have created a huge and oppressive bureaucracy, Sam Rasoul has proposed replacing it with a graduated flat tax. Rasoul says his proposal would be revenue neutral, much simpler for taxpayers, reduce taxes for most households earning less than $50,000, close loopholes that have upper income taxpayers dodging their fair share. Check out the details of Rasoul's plan.
The concept of a flat tax is a often pushed by conservatives and libertarians. If you Google "flat tax" you'll find about 1.1 million hits, many from groups like the Heritage Foundation and Hoover Institution. A primer on the flat tax is on Wikipedia, but as on all online (and other) sources, read with a jaundiced eye. It is important to note that Rasoul's plan is actually a graduated flat tax which has some aspects of a flat tax while retaining several progressively higher tax rates as incomes increase. This compromise is probably more politically palatable than a pure flat tax.
While I'm not ready to endorse a flat tax, or even a graduated flat tax (simplification yes!), I applaud Rasoul for creative thinking and putting tough issues like this one on the table. That alone puts him head and shoulders above his opponent. This should be a topic in their upcoming debate and in future debates that we all hope the incumbent will agree to.