The Flat Tax Answer

March 30, 2009 | Jim Vicevich | |

Taxation is back on the table. Like President Bush, President Obama is putting together a tax commission to study an overhaul of the tax system, something that really has not been done since Ronald Reagan’s tax simplification in the 80’s when the progressive system was reduced to 3 brackets.

President Obama says he wants to close loopholes in the system. Loopholes? I got your closed loopholes right here.

This weekend Steve Forbes once again raised the idea of a flat tax, one that would address the famous “Warren Buffett pays less tax than his secretary” story, by making sure everyone pays the same rate regardless of income (with the exception of low income people who pay nothing), and how that income is earned (interest and dividends). No deductions.

httpv://www.youtube.com/watch?v=hPpU5KWYb1M

What do you think? Comments on this one are more than welcome please.

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Jim Vicevich

Jim is a veteran broadcaster and conservative/libertarian blogger with more than 25 years experience in TV and radio. Jim's was the long-term host of The Jim Vicevich Show on WTIC 1080 in Hartford from 2004 through 2019. Prior to radio, Jim worked as a business and financial reporter for NBC30 - the NBC owned TV station in Hartford - and as business editor at WFSB-TV in Hartford for 14 years while earning six Emmy nominations and three Telly Awards.

3 Comments

  1. Dimsdale on March 30, 2009 at 2:18 am

    Flat is fair.  The definition of "fair" to a socialist liberal Democrat is "some political target in the class war we are waging will pay more (until you read the fine print in the tax law)"



  2. ryalso on March 31, 2009 at 8:59 am

    Flat is better but it ain't exactly fair. Some will still pay more ($) than others and some won't pay anything at all. The government doesn't give greater priviledges to some people just because they make or have more money (politicians excepted – they'll always be the rulling class).  The government is an equal opportunity oppressor, so why should anybody regardless of their wealth still have to pay more for the same garbage as the next guy?  Do you have to pay more for a can of pork and beans than somebody else? When everybody pays the same amount ($), not a percent of what they own, then it will be fair. Otherwise it is still a ruse…a better one, for sure, but a ruse none the less.



  3. Dimsdale on March 31, 2009 at 1:21 pm

    I agree: I mean fair compared to the neoMarxist (progressive) tax system now in place.

    Best idea: everyone pay the same amount.  One might tell that to the town property tax collectors as well.



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