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The Water Cooler
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Fair Tax questions
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<blockquote data-quote="mugsy" data-source="post: 1951543" data-attributes="member: 18914"><p>If we are lucky, IF, we may get back to something like what Ronald Reagan was able to work - a simplified version of the current income tax system - with only perhaps 3 brackets - low of 5%, middle of 10%, and high of 15%. That is still technically a "progressive" tax system but it isn't a bad compromise from a Conservative point-of-view.</p><p></p><p>I personally believe that the income tax should be repealed because it provides a theoretically unlimited source of income for day-to-day activities to the Federal government - i.e. we should stop the beast by cutting off its food supply. However, I consider the chances of that happening to be nearly zero so I am willing to find a reasonable compromise. The "flat-ish tax" I mentioned above - or something like it - might be that compromise.</p></blockquote><p></p>
[QUOTE="mugsy, post: 1951543, member: 18914"] If we are lucky, IF, we may get back to something like what Ronald Reagan was able to work - a simplified version of the current income tax system - with only perhaps 3 brackets - low of 5%, middle of 10%, and high of 15%. That is still technically a "progressive" tax system but it isn't a bad compromise from a Conservative point-of-view. I personally believe that the income tax should be repealed because it provides a theoretically unlimited source of income for day-to-day activities to the Federal government - i.e. we should stop the beast by cutting off its food supply. However, I consider the chances of that happening to be nearly zero so I am willing to find a reasonable compromise. The "flat-ish tax" I mentioned above - or something like it - might be that compromise. [/QUOTE]
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