A 9% true flat tax and 90% deregulation of business would unleash unbounded prosperity.
“A Flat tax is flat, a single rate from dollar one with no exemptions or deductions. 9% would raise as much net revenue to the government as all the monstrosity we have now with the liability that in succeeding years it wold give Congress progressively much more money to build socialism with. Any variation on the flat tax theme negates the benefits of a flat tax.
A 9% true flat tax and 90% deregulation of business would unleash unbounded prosperity.”
You may be correct about this-I haven’t done any calculations on the difference between a ‘true’ flat tax without deductions and the current one being proposed by Perry. I’ll take your word that a ‘true’ flat tax of around 9% with massive de-regulation would work best. The problem of course-is it politically possible to get to such a system right away? I’m not sure-because everybody would be complaining about having their deductions taken away. I just don’t see it happening, but it is probably the best way to go.
I wonder if you know the answer to this-it’s my understanding that under Cain’s 9/9/9 plan, the social security tax is eliminated, but under Perry’s flat(ter) tax plan, you still pay social security and medicare. Do I understand this correctly? If true, then as a self-employed person, I think I come out far better off personally under 9/9/9.