Linda Beale on NH Public Radio…flat tax is back
Moderated by Laura Knoy on Wednesday, October 26, 2011
“In past presidential cycles, the idea of fixing the tax code by charging everyone the same rate has caught on like wildfire, only to die out later. This Presidential election season, candidates Herman Cain Rick Perry, and Newt Gingrich are promoting flat tax plans. We’ll look at this concept…why it remains popular…and why it hasn’t yet become law.”
Linda Beale – associate professor at Wayne State University Law School. She contributes to the economics and finance blog, Angry Bear.
Chris Edwards – director of tax policy studies at the Cato Institute and editor of the website, downsizinggovernment.org
(loonyhiker< /a>via Flickr/Creative Commons)
Of course Linda’s thoughts on the matter appear in more detail at Angry Bear and ataxingmatter
linda might have won that debate, but most people wont listen long enough or close enough to hear what she’s got to say…it practically takes putting a bunch of sample tax returns in front of someone who’s been sold on the simplicity of a flat tax and forcing them to look at how relatively screwed they’d be before they change their mind…
People like the flat tax because it is simple. But, it is not simple because it is flat. It is simple because it gets rid of all the deductions and exemptions. That can be done with a progressive tax also. All that needs to be done is set a series of rates based on income and get rid of deductions and exemptions. Start at 0% for the lowest bracket and go up from there.
Keep the simplicity of a flat tax but make it progressive.
that’s what i been tellin em. but it’s too simple for them to understand it.