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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