Mohacsy's Safe Portfolio Member Forum

[trkyhntr]

I don't think you understand the principle underlying the flat tax proposal, Elroy. Nobody pays whatever the tax rate is now. If they do, they don't have much of an accountant. I'm not sure what your last post is trying to prove, but I couldn't understand it. you don't take ten percent minus 23 anything.

The flat tax means that even those who are millionaires with huge portfolios of currently tax exempt investments would pay ten percent on all of their investment or earned income with no deductions. If you really want to understand it, check out Steve Forbes' proposal during the last presidential campaign. It is so simple it would put tax accountants out of business and would make the IRS obsolete. Both are enviable goals. Forbes stated that it would be revenue positive; that the federales would actually collect more than they do now. With the savings to the economy in general, it would give a boost to the economy by eliminating all those non-productive jobs.