Wednesday, October 19, 2011

Stop this flat tax nonsense

It's time that everyone who can do a bit of math and who has sympathy with the lower and middle classes starts to speak out about this "flat tax" nonsense. A flat tax of the kind being proposed by the Party for The Rich (PTR, formerly GOP) would create the largest transfer of wealth to the rich and away from everyone else in the history of this country -- perhaps in the history of any country. The numbers are clear and irrefutable. In fact, the only arguments that its supporters can muster are that it's simple to compute and that it's called "fair" by rich people.

Talk about fairness when your flat tax proposal exempts the first $40,000 of income, and taxes capital gains at the same rate as earned income. 

Talk about fairness when your sales tax includes purchases of stocks and bonds.

Talk about fairness when your sales tax isn't a VAT tax, which effectively doubles its rate on manufactured items.

For gosh sake, all you "populists" and union members and Move-On people, and Occupiers: Start talking about the math -- it's a no-brainer.

Anyone who supports a flat tax is either rich, wants to give away his money, or doesn't understand it.

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