Wednesday, November 02, 2005
flat tax rate.
It would be nice to live in a world that didn’t have taxes.
I never thought are tax system was fair. I’m one who favors a flat tax rate for all. I’ve readied the percentage should be between 10% up to 23%.
I think this is how the flat tax should go. Raise the individual deduction up to $15,000 per person. Take way the extra deduction for being over 65. Take way every tax credit excepted earned income unless the minimum wage is raise up to $15.00 an hour. If minimum wage goes up to $15.00 I would say take the earned income tax credit away.
So after your individual deduction a person or family would pay 10%.
A family of 4 would have to make over $60,000 a year before they taxed.
If a family of 6 made $330,000 a year they would get $90,000 for deduction and pay
$24,300 in taxes.
Simple and easy to figure out.