1 year, 7 months ago
via ask.inc.com
Would a "flat tax" plan suit the U.S.?
Many of the proposed "flat tax" plans simplify the tax code, severely. Simply put, a flat tax is a percentage of income paid to the government. There are no income limits, maximum earnings or other restrictions we find such as no social security tax for income past $90,000. A flat tax would eliminate the need for much of the current tax codes. For example, 19% flat tax, would be applied across the board for those making $20,000 to those making $200,000. Would this work? If not, why not?
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