Just doing a little math here. A true “flat tax” might look something like this:
US Population 2010: 309 million people (309000000)
US Federal budget request for 2010: $3.55 trillion ($3550000000000)
3550000000000 / 309000000 = $11,488.67/person/year
That is quite a bit of tax. Although, consider what we pay in taxes across the board in sales, property, gas, income, SS, etc, etc.
I just read some articles that I found interesting.
“1. Poor Americans do pay taxes… including federal payroll taxes. Between gas taxes, sales taxes, utility taxes and other taxes, no one lives tax free in America.”
“[D]uring seven of the eight Bush years, the IRS report on the top 400 taxpayers was labeled a state secret, a policy that the Obama administration overturned almost immediately after his inauguration.”
“Since 1980, when President Reagan won election promising prosperity through tax cuts, the average income of the vast majority—the bottom 90 percent of Americans—has increased a meager $303, or 1 percent. Put another way, for each dollar people in the vast majority made in 1980, in 2008 their income was up to $1.01.”
“The ultra-rich simply are not going to be taxed into oblivion. They will do whatever it takes to avoid high tax rates.”
“The truth is that our tax system is completely and totally broken.”
“When you crush small businesses you crush job growth in this country.
“If you wanted to truly ‘tax the rich’, you would need to completely throw out our current tax system and come up with something completely and totally different.
And actually, when you get right down to it, an income tax is not even needed to run our country. Until 1913 the United States did just fine without a federal income tax.”
“[T]he solution is to change the rules of the game so that money and financial power does not become so concentrated in the hands of just a few. Our founding fathers intended for all Americans to be able to start businesses and compete. They never intended for gigantic mega-corporations to dominate everything.”
What are your thoughts on taxes?