Apparently, a number of countries already have introduced the Flat Tax to try to boost economic growth. Since the mid-1990s, Estonia (24% tax rate), Latvia (25%) and Lithuania (33%) have had a flat tax system in place. Russia (13% flat tax), Slovakia (19%), Romania (16%), Macedonia (12% flat tax on personal income and corporate profit), and Ukraine (15%) also have a flat tax in place. Albania may implement a 10% flat tax this coming year.
Could a "radical" simplified tax code ever come to be in America? Everyone else seems to be giving it a try, why not the US? I'm not sure whether I prefer the Fair Tax or the Flat Tax but something needs to be done about the tax rates and tax system in America!
The Hoover institution has been big on the Flat Tax and have published the following book: The Flat Tax by
I think I might have to make a book purchase as soon as I am done reading the The FairTax Book and FairTax: The Truth: Answering the Critics.
2 comments:
In 1986 Under Regan the tax system was overhauled. Two levels of taxes were installed and many deductions were eliminated. In essence this became a Flat Tax. This has been amended over 14,000 times since then, with numerous new loopholes and deductions added. So much for a Flat Tax. The Fairtax address much more of our economy, this is the way to go.
I'm ready for one postcard. One flat tax.
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