In response to:

Romney Should be Even More Aggressive on Taxes

jeffersonpayne Wrote: Aug 11, 2012 10:24 PM
It seems to me that the reason for a generous exemption for income taxes is simply that we shouldn't be paying to take care of our politicians before we take care of our own families. Exempt income up to a poverty level (indexed!) & then put a flat tax on everything above that. Best regards,
Did you know that personal income taxes equal about 10% of personal income? Think about that. In principle, we could collect all the income tax revenue the government is collecting today for a tax rate no higher than the biblical tithe.

Of course that would mean no deductions (including deductions for charitable giving and mortgage interest, as well as the standard deduction), no credits (including credits for wind mills and solar power panels) and no loopholes (including tax free interest on municipal bonds). But isn't that a tradeoff worth considering?

Economists are almost unanimous about the economic...