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Flat Tax or Fair Tax?

Ned6 Wrote: Jan 31, 2013 10:22 AM
While all three taxes are preferable to our current tax code, some way must be found to make these taxes progressive. The top 5% currently earn 32% of all income, but pay 59%. Would you really expect the bottom 95% to vote for any plan that requires them to pay an additional 27% of all tax revenue? The FairTax's prebate offers a solution. And, if you're going to build in progressivity, why not add the funds from current means-testing programs ($700B) to funds from current deductions ($1T) and get rid of the bureaucrats? For more on this, watch 6 videos on "Fixing the Federal Government" on YouTube.

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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