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Angela Hill

 Email: angela@wwl.com
Twitter: @AHillWWL


Angela: What if every American paid a flat tax?

It is my personal belief that if every time we got a paycheck, we had to turn around ourselves write a check to the Federal government. Add to that a check to the state; a check to Social Security; a check to Medicare; then our property taxes too. And even more, a general check for sales taxes. We would have a clear understanding every month of the amount of money you give up for taxes.

If we saw those checks written monthly I would, we would go ballistic! 

When you think of the money that is lost in the deep hole of Washington D.C. it is horrendous; and it is our money!  We don’t see it in our paychecks; so sometimes we don’t miss it. But if we had to write those checks monthly, it would be a real honest-to-God revolution. When we pay Federal, State, Social Security, Medicare, property, sales taxes - all for what exactly? How big a return are we really getting on those investments?  

And how can you have a 20,000 page tax code that increases every year?  I want to know who ever read it!   But we allow this folly to go on.

I’m for a straight tax.  Are you?  Just imagine if every American paid a flat 15% tax? I can hear the screaming lobbyists now…

Thanks for letting me vent, this has been a bee in my bonnet for a while now! Listen to today's podcast of our discussion with tax experts below!

FULL AUDIO: Angela talks taxes with CPA Jay Rabalais, tax attorney John Butler, economist Will McBride, and Thomas Fontes, owner of Accounting Services Unlimited

 
 



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Topics : Social Issues
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Locations : Washington D.c.
People : Jay RabalaisJohn ButlerThomas FontesWill McBride




 
02/18/2014 7:37PM
Angela: What if every American paid a flat tax?
Please Enter Your Comments Below
02/18/2014 10:31PM
That would make sense, right?
I agree with the idea of having a flat tax, but there are plenty of obstacles and roadblocks blocking this train of thought. If a positive reform act could be within state and federal govt this could very well work!
02/19/2014 12:22AM
a disadvantage
Opponents of the flat tax contend that the flat tax system penalizes the low-income segment of the population. Low-income individuals and families must spend money on the same necessities required by higher-income people. However, after the necessities are purchased, the poorer taxpayers, because they earn less, will have less money left over to pay taxes, at the same rate as those earning higher income amounts. Many believe that a flat tax system reduces tax for, and actually benefits, high-income earners. For example, if the tax rate were 10 percent, then someone making $1,000 would have $900 spending income left after taxes. Someone who makes $10,000 is left with $9,000 after taxes; this inequity is thought to prove that a flat tax disproportionately benefits the rich.
02/19/2014 8:11AM
If it makes sense, Don't do it!
Unfortunately, we are in a country that doesn't support doing whats right for the country. We only want what helps me as an individual and that is what is driving the country into the ground. We need to stop supporting people who only say what we want to hear and do what we NEED to get back on track. The flat tax would help get the country back on track, but at what percent? I really don't care who it hurts or helps as long as the long term goal is to get the country out of debt and on track. Hurting the poor/rich is what we may need to get on track.
02/19/2014 2:20PM
So
If that's your view, why not a moderate tax increase on the richest americans as has been proposed hundreds of times? The poor shouldn't be responsible for paying off the debt when a huge portion of that debt was government (taxpayers) funding breaks for big oil and big defense. They profited off the government a million times over.
02/26/2014 7:20AM
Must see items.
http://media-cache-cd0.pinimg.com/originals/f8/1b/71/f81b71eef3aa6398f7aa12a886309091.jpg and http://billmoyers.com/episode/the-deep-state-hiding-in-plain-sight/
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