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Old 09-19-2005, 01:08 PM
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jmjj215 jmjj215 is offline
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Default Another aspect of the flat tax...

We've discussed the flat tax at length here , but one thing that I thought was missing from the discussion.

Some people are for the flat tax because it would be 'simpler' because you would just have one rate to deal with.

In the US the difficulty in computing your tax liability is NOT in using the graduated scale they have now. It's figuring out what your taxable income is.

For starters, if there were a flat tax, what would you consider income?

Capital gains on sale of stock, personal residence, personal automobiles. The profit from a business, your wages at an employer, etc. What if your employer also pays for your health insurance, babysitting, life insurance, etc. Is that income to you? Should you pay tax on it?

Therein lies a small glimpse into the complexity of the tax system. It's not the rate that's tough - it's everything else!
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