Thursday, October 29, 2015

Beware Of Flat Tax Hucksters


Presidential candidate Ben Carson announced his tax plan recently. It's labeled the tithing tax system by some.
Under the no loophole 10% flat tax plan, my federal income tax taxes on a moderate retirement income would increase by $1,300 per year.
Supporters of the voodoo system claim that, not only would we would all see a tax cut, but that federal revenue would actually increase. This in spite of the fact that there is no empirical data or historical record supporting such an outcome.
If the claim is to at least maintain current federal revenue it is apparent that if folks with a moderate income have to pay more, some one else will have to pay less. Duh!
The last presidential candidate that offered a flat tax system was Steve Forbes who's 2000 campaign floundered and failed.
Beyond a doubt the federal tax system is in dire need of an overhaul but using fiscal magic tricks is not a viable option.


Paul Hunter budhunter@frontier.com


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