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4.15.2005

Flat Tax Revisited

An update.

So I've decided to do my taxes today. In a spirit of hope, here is an article from The Economist to convince any remaining Thomases the need for a flat tax. The most amazing line:
The costs merely of administering a conventionally clotted tax system are outrageous. Estimates for the United States, whose tax regime, despite the best efforts of Congress, is by no means the world's most burdensome, put the costs of compliance, administration and enforcement between 10% and 20% of revenue collected. (That sum, by the way, is equivalent to between one-quarter and one-half of the government's budget deficit.)
Hoo-ah!

Another thing: Americans spend 6,600,000,000 man-hours on taxes a year. Think about that. And they still squeeze in 4 hours and 28 minutes a day, on average, for television!

1 Comments:

At 2:46 PM, Blogger Miguel said...

The hard part is NOT calculating your rate, it's calculating your income. A "flat tax" does nothing to simplify that, and I would even say that with the exception of the extremely poor, we have a flat tax in place in the USA, with everyone paying a very similar percentage of income.

 

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