weso1
<B>Clique Leader</B>
14.5% flat tax rate for personal, capital gains and business income.
Before you grump about the flat tax, consider that this does include an exemption for the first $50,000 for a family of four. So in essence this is actually a progressive tax. Those with a family who make less than 50,000 pay 0% tax. Those with an average American family who make 75,000 would pay tax on only $25,000, which is about 5% tax. Those who make $100,000 would pay 7.25% tax. There would also be a mortgage deduction and charitable deductions which could make it even less. The uber wealthy would pay double the tax rate of those who make $100,000. Seems like a fair system to me. Also, corporations and capital gain investors would pay the same tax rate without tax shelter.
Before you grump about the flat tax, consider that this does include an exemption for the first $50,000 for a family of four. So in essence this is actually a progressive tax. Those with a family who make less than 50,000 pay 0% tax. Those with an average American family who make 75,000 would pay tax on only $25,000, which is about 5% tax. Those who make $100,000 would pay 7.25% tax. There would also be a mortgage deduction and charitable deductions which could make it even less. The uber wealthy would pay double the tax rate of those who make $100,000. Seems like a fair system to me. Also, corporations and capital gain investors would pay the same tax rate without tax shelter.
