How 'bout a simple form with just 2 questions:
1. How much money did you make last year (include W-2, capital gains, cash, etc.)
2. What is 1.23 times the amount from question #1?
Make a check for that amount payable to "US Treasury" and mail to...
That would be a 23% flat tax which seems reasonable.
In the legislation establishing this, there should be a provision that the percent of tax rate cannot be raised without 70% concurrence in the House and Senate.
No longer would Warren Buffet pay a lower rate than his secretary. Everybody pays the same rate. Period.
No deductions?
So, a family making $30,000 a year now pays $6,900 in taxes as opposed to ZERO now?
You’d get opposition from 47% of the country.
I’m with you, as long as we use 0.23 instead of 1.23. ;-)
>>2. What is 1.23 times the amount from question #1?
Make a check for that amount payable to “US Treasury” and mail to...
That would be a 23% flat tax which seems reasonable.<<
You didn’t push the “math check” button...
Make a check for that amount payable to "US Treasury" and mail to...
That would be a 23% flat tax which seems reasonable.
Er....that's not a 23% flat tax. That's 123% of what you earn.
May I suggest a re-write...???
:o)
Actually if you multiply what you made by 1.23 and write a check for that amount then you're being taxed at 123% of your income. While Obama would like that, I wouldn't. And even the 23% tax you mentioned would be a healthy increase in what I pay the feds now so you have a hard sell ahead of you.
I don't trust Warren.