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Is there any chance for a flat tax in the USA?
The flat tax, the non-partisan government, the self-sacrificing politician, democracy by popular vote, national pride and unity - are all these dead and gone, or just critically ill?
2 Answers
- Jeff DLv 76 years agoFavorite Answer
Yes, a flat tax may happen eventually. The tax code tends to go in cycles. Politicians love to add deductions and tax credits for their pet causes, but eventually there get to be so many deductions and special tax credits that lots of people end up paying little or no tax. Tax revenue starts to decline and raising tax rates only works for a while and then even that stops working. Finally, in desperation, politicians turn towards a flat tax--eliminating deductions in exchange for a flat rate. This restores revenue but then the process starts up all over again.
We got pretty close to a flat tax during the Reagan years (we got a two-tier system) but now the tax system is again larded up with deductions and tax credits.
- Anonymous6 years ago
No. People and corporations love their deductables and tax cuts too much.
