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Flat Tax or Fair Tax?

Arley2 Wrote: Jan 31, 2013 2:31 PM
Looks like you'd have a hard time getting a 10% flat tax plan to pass. 1. Federal Government spending is 6.3 trillion. 2. Current Federal tax revenue is 5.6 trillion. 3. GDP is 15 trillion. So for the FEDS to get an amount to waste equal to current revenues, it looks like a flat tax would have to be in the neighborhood of 30% of GDP, On the other hand, right now 47% of the population pays zero income tax, so maybe that would level out a bit..................say to a 20% flat tax paid BY EVERYBODY.
Sean245 Wrote: Feb 01, 2013 12:54 AM
20% is way too high, government has to make some hard choices, cut programs, eliminate agencies, stop all grants and foreign aid. Congress could use that right-wing document called the Constitution as a guide to what spending should be authorized.

I’m at Hillsdale College in Michigan for a conference on taxation. The event is called “The Federal Income Tax: A Centenary Consideration,” though I would have called it something like “100 Years of Misery from the IRS.”

I’m glad to be here, both because Hillsdale proudly refuses to take government money (which would mean being ensnared by government rules) and also because I’ve heard superb speeches by scholars such as Amity Shlaes (author of The Forgotten Man, as well as a

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