Billy Claude Posted July 23 Share Posted July 23 (edited) 1 hour ago, SoCal Deek said: You're aware that it's all of those deductions and credits that make the tax code complex.....right? (Asking for a friend.) Not sure I understand your point since what you said is exactly what I thought I was saying. People conflate a flat tax with tax simplification but they aren't directly related. Tax simplification is about getting rid of as many deductions and credits as possible, not making the tax rate flat. Of course since higher earners tend to use more deductions and credits it would allow one to make the tax brackets less progressive to keep effective tax rates the same. Edited July 23 by Billy Claude Quote Link to comment Share on other sites More sharing options...
SoCal Deek Posted July 23 Share Posted July 23 3 hours ago, Billy Claude said: Not sure I understand your point since what you said is exactly what I thought I was saying. People conflate a flat tax with tax simplification but they aren't directly related. Tax simplification is about getting rid of as many deductions and credits as possible, not making the tax rate flat. Of course since higher earners tend to use more deductions and credits it would allow one to make the tax brackets less progressive to keep effective tax rates the same. And flat tax simplifies the tax code….no? Nobody is in favor of a flat tax that also retains the labyrinth of deductions etc. Nobody! Quote Link to comment Share on other sites More sharing options...
Billy Claude Posted July 23 Share Posted July 23 (edited) 39 minutes ago, SoCal Deek said: And flat tax simplifies the tax code….no? Nobody is in favor of a flat tax that also retains the labyrinth of deductions etc. Nobody! You can eliminate exactly the same labyrinth of deductions etc. while keeping the tax brackets (though obviously the brackets would shift and the rate at each bracket will be lower). This is what they did with Gephardt-Bradlely in the 1980s. Edited July 23 by Billy Claude Quote Link to comment Share on other sites More sharing options...
SoCal Deek Posted July 24 Share Posted July 24 3 hours ago, Billy Claude said: You can eliminate exactly the same labyrinth of deductions etc. while keeping the tax brackets (though obviously the brackets would shift and the rate at each bracket will be lower). This is what they did with Gephardt-Bradlely in the 1980s. I believe everyone knows that. No idea what stump you’re on here. No offense. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.