Reply to What really needs to be fixed in the tax code?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Eliminate ALL deductions and exemptions.  Institute a flat % tax.[/quote]

No, this would be patently unfair.[/quote]

If everyone is paying the exact same %, how is that unfair?  Seems to me it's the very definition of 'fair'.[/quote]

No, it's "equal." You're conflating the two. "Equal" and "fair" are not synonyms. Our tax code is progressive for a reason.

If I earn $50,000 and the flat tax is, say, 15%, I have to pay $7,500 (plus payroll taxes, but I'll leave that out for now), so I'm left with $42,500. But if someone earns $1 billion, he pays $150 million and is left with $850 million.

I know, I know, you think that's fair. The problem is -- the rate cannot be 15% in order to be revenue neutral. It has to be closer to 30%. So, now I'm left with $35,000 (plus payroll taxes). The billionaire is still left with $700 million.

I don't think that is fair. He has a greater ability to pay than I do without affecting quality of life. That's the issue.[/quote]

OK, you simply want the rich to pay their "fair share".  Got it.

Life isn't fair.  But our forefathers stated "all men are created equal".  We should be taxed as such.[/quote]

+1
I’d be happy that the rich person is paying $150 million. A lot more than they pay now with various exemptions and deductions.[/quote]

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