How do we respond when activists such as Michael Moore and others say that we need to tax the rich more because they are not paying their fair share? Here are three reasons (along with three short videos below) that we should adopt a flat tax and abandon our present progressive tax system:
Our present tax code is extremely complicated, requiring many hours to prepare tax returns and costing enormous amounts in time and money.
THE CASE FOR THE FLAT TAX
THE FLAT TAX SAVES MONEY BECAUSE IT IS SIMPLE
Description: The tax system is a complicated nightmare that forces taxpayers to devote ever-larger amounts of time, money, energy, and other resources to comply with the internal revenue code and avoid IRS persecution. This CF&P Foundation video shows that this corrupt mess is the result of 97 years of social engineering and industrial policy that began almost immediately after that dark day in 1913, when the income tax was created.
Double taxation should be abolished. Corporations are already taxed once. There is no need to tax capital gains again. Eliminating capital gains taxes would promote investment, growth the economy, and create jobs.
THE CASE FOR THE FLAT TAX
A FLAT TAX IS MORE TRANSPARENT
Description: Dr. Daniel Mitchell explains that the capital gains tax rate should be zero to prevent income that is saved and invested from being taxed twice. This is why all genuine pro-economic-growth tax reform plans, such as the flat tax and national sales tax, eliminate the capital gains tax. Unfortunately, the President wants to do the opposite by boosting the official capital gains tax rate to 20 percent, and raising the capital gains tax rate included in the government-run healthcare legislation.
3. A flat tax closes loopholes and reduces special interest lobbying
A complicated tax code attracts special interest lobbying to get tax breaks for the special interest. A flat tax would eliminate that, making the system fair for all.
THE CASE FOR THE FLAT TAX
A FLAT TAX CLOSES LOOPHOLES AND REDUCES SPECIAL INTEREST LOBBYING
Description: This Center for Freedom and Prosperity Foundation video shows how the flat tax would benefit families and businesses, and also explains how this simple and fair system would boost economic growth and eliminate the special-interest corruption of the internal revenue code.
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