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How is America going to afford a "flatter" tax system?
Mitt Romney has promised in the past that he will never raise taxes. Yet his campaign website wants a flatter tax system. So this definetly means (assuming he is honest) that he will cut taxes for the rich.
So, that fact that half of all Americans barley earn enough to pay income taxes, how are we supposed to afford a system where the rich pay even less tax than they do now?
If you spend less, youll hurt the economy. If this confuses u ur not entiteled to vote;
8 Answers
- Mr. SmartypantsLv 79 years agoFavorite Answer
By 'flatter' do you mean that everyone pays the same percentage of their earnings? To achieve that, you'd have to RAISE taxes for the rich, or cut them for the middle class. Don't you remember when Mitt came out and admitted he paid a much lower tax rate than his own secretary?
'Flat tax' is one of those things that there's a word for but that doesn't exist in the real world. Like unicorn, or honest politician. For a long time every candidate for president had a 'flat tax' plan, both Democrats and Republicans. Some presidential candidates ran their whole campaigns based on the flat tax (Steve Forbes). But it was an empty promise, since they all knew the complexity of our tax code hides hundreds or thousands of special favors for individual industries, individual companies, even individual individuals.
Ronald Reagan's tax 'reform' was supposed to be a flat tax, to reduce the complexity of the tax code incredibly. It ended up making the tax code half again as big, and shifting the burden of taxation off the rich and onto the Middle Class.
Romney is making the same promises Republicans have made for 30 years now. He's promising that he can bring the budget into balance by spending MORE and taxing LESS. Reagan promised that, both Bushes promised it, but none of them even tried to do it because they knew it was impossible. Somehow this understanding never filtered down Republican voters.
If he wins (which he won't) Mitt would follow the same route as Republican presidents since Reagan. Spend money like it was going out of style, as if debt simply didn't matter. Stimulate the economy at the cost of massive new debt, just as Reagan and the Bushes did. And take credit for stimulating the economy, blaming the recession on Obama. Maybe get us stuck in another needless, useless quagmire war in Iran, and keep it off the budget so he doesn't have to admit that it costs money. He's give us absolutely no clue that he'd do anything different than Bush. Neither did McCain, and that's one reason he lost so badly.
- bicycle to liveLv 69 years ago
The Fair Tax is the only answer. It eliminates the tax for anyone at the poverty level and below. With our current system, Obama's system, Romney's system, the taxes will trickle down to the consumer, which includes the poor. .
- Jeff DLv 79 years ago
Flat taxes raise more revenue because part of the idea of a flat tax is to eliminate tax loopholes and exemptions. The reason that just raising tax rates doesn't work very well is that it just gives more incentive to shelter their money in tax loopholes. Just eliminating the tax loopholes doesn't work very well because it's a huge tax increase and generates a lot of political opposition. A flat tax is a good quid pro quo and accomplishes both--more money is taxed but at a lower rate.
- Dave87gnLv 79 years ago
Romney has already endorsed the Ryan Budget which cuts taxes on the rich another 10%
he also promised no new taxes and a new war with Iran
so the math ,of course, doesnt add up
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- ?Lv 45 years ago
If I keep in mind properly the Europeans did not start up united statesa.. i'm rather effective my ancestors have been already right here while the " Euro-beginnings" began. this question blew my recommendations. in my opinion i think of slender mindedness is what's collapsing our academic gadget and society.
- EviLLv 69 years ago
by cutting social security and medicare and making the people who can least afford to pay a flat tax at the same rate as the rich.
yes it will be a much better country.
Obama 2012
- Anonymous9 years ago
Spend less.
If this confuses you, you're not qualified to vote.