Monday, August 22, 2005

Flat Tax

Steve Forbes again presents the case for a flat tax here

What's interesting is the free-market approach to accepting the idea. Let American taxpayers calculate their liabilities under the current system and under the flat tax rate and then choose which way they want to pay. It's certain most will choose the one that produces the lower amount, but when they see the vast difference in complexity they might decide for a simple system even if it should cost them as much. With the Alternative Minimum Tax now biting more and more people, Forbes' plan sounds even better. Don't accept the naysayers whining about reduced revenues -- they use a fallacious static calculation that doesn't include unleashed productivity and growth that enhance revenues even though rates have been reduced.

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