62 Percent of Americans Say They Favor a Flat Tax

62 Percent of Americans Say They Favor a Flat Tax

America’s tax code is riddled with problems.

  • It imposes high rates on families, businesses, investors, and entrepreneurs.
  • Its double taxation of capital gains and dividends creates a bias against savings and investment—activities essential for economic growth.
  • Its convoluted system of deductions, credits, and exemptions distorts incentives and inefficiently allocates resources, limiting wage and productivity gains.
  • Its worldwide penalty on corporate income deters business activity and undermines international competitiveness.
  • Its labyrinthine collection of statutes and regulations (which is five times longer than the Bible) is hopelessly complex and generates considerable compliance costs for both taxpayers and Congress.
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Four Common Myths about the Flat Tax
4 Myths that are not true….

1.It will help the rich at the expense of the poor.

2.Charitable contributions will decline substantially.

3.The housing market will crumble if the mortgage deduction is removed.

4.If there is a single rate, it will be easier for Congress to raise taxes in the future.

http://dailysignal.com/2015/03/20/four-common-myths-about-the-flat-tax/

 

 

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