Posted by V k on 10/18/2011, 12:52 pm, in reply to "HOW IS 9 percent fair"
Is every individual, every business gets taxed on revenue at the very same rate. If you do business in this country, you get taxed. i don't care where your HQ is.
now to make it fair for the very poor, everyone, every business is tax exempt on the 1st $15,000 earned... After that, the flat tax kicks in. no exemptions. no write offs. no children credits, no marriage penalty, no mortgage interest incentive. NOTHING! No mineral exploration credit. No retooling tax credit, no incentive to move your hq overseas.
everyone pays the 15% or 20%. Same rate on the 1st 100K(minus that 15k exclusion) as the last 100k. No tax incentive to be married or divorced. Capital gains is income. it gets taxed at the very same rate.
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