Herman Cain explicitly stated that one of the intentions of “999” was to bring flat tax and fair tax people to the table for some sort of resolution.
Flat tax is a fair tax. 10% is good with me. On everything. It should be same for everything. The GD “fair tax” is anything but.Hiding behind consumption tax is still progressive, no matter how you slice it. The only rub, for me, is that the budget for ‘15 (for example) needs to be proposed by Oct 15th, thoroughly discussed, debated and voted upon by OUR elected representatives, for providing the military and necessary government function, to be voted on EACH YEAR by Nov. 15. Move voting back to then amd have a vote EVERY year. Simultaneously on that rotation, one sixth of the offices are turned over. No more than one (1) six year term for any office and subject to repeal. No lifers, no careerism and no multi-million dollar givebacks at the end of your ter,
A republic counts on an informed and active electorate. What better way then to LITERALLY have us put our money where our mouth is each and every year?
I have always preferred a flat tax with no deductions. Much easier to implement. Take out a fixed amount from your paycheck and everyone is done.
If this flat tax proposal simply addresses the income tax it'll be a let down.
I liked Forbes' flat tax and I was amused that those in love with the leviathan progressive tax code could make their own choice under which to pay.
The point in the article about compliance cost cannot be stated more often or more emphatically. It's insane. It's stupid. It's self-defeating. It's hundreds of millions of dollars in wasted capital that could be used to EMPLOY PRODUCTIVE WORKERS.
One thing I will say, however, Newt had a good point in the last debate. While massive tax reform is good, important, even necessary, the economy cannot wait for that debate and legislation. There will have to be an intermediate, immediate change to the existing code. Cain acknowledges that in his call for the super committee to make such proposals but that doesn't get much play and just won't happen under this regime, this congress.
Taxes are only 1/2 the issue....the other 1/2....which all of DC is desperately hoping nobody gets around to, is hatcheting 1/2 of the the Fed Gov...physically, regulatorily and legislatively.
One...or the other...of itself...does little to address the net problem.