LogFAQs > #931253999

Mead posted...

a flat tax. Like I said in my damn post.

tax income at around 40%, eliminate all loopholes, and get rid of the taxes aside from income tax

The problem with that is that 40% of 20k/year has a much, much greater impact on quality of life than 40% of $2m a year does. If you're going with a flat tax approach, you need some sort of minimum income below which you can't be taxed, otherwise you end up taxing people into homelessness. That minimum income is also going to vary based on a number of factors, including where one lives, how many children one has, one's marital status... basically, defining that minimum means you'll end up with just as convoluted a tax system as you've got now with different brackets.

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