![]() Yet after those purchases, people with a lower income have less money left in their pocket.That is also why some argue the rich should pay more and a flat tax is not a good idea.Jewell says it's also foolish to think that ultimately, there won't be any loopholes under a new tax system."There's always going to be special interest groups, there's always going to be lobbyists and as soon as we have those people doing their thing in Washington, DC we're going to start having loopholes, exemptions, deductions and all those types of things we have right now."Another fear is a flat tax would mean a reduction in government revenue, because if those making more pay less, the government may in the end collect less.Finally no need for tax preparers and a simplified tax code could mean some folks will be left without a job.Simply put, corporate tax is the tax levied on the profits of a corporation. (However) I think some people will always use that tax preparer no matter how simple we get, just for their own personal peace of mind or their own choosing."A flat tax would also eliminate double taxation on things like savings and dividends.Finally proponents claim the change would not discriminate based on income, because everyone would pay the same rate.But opponents say a flat tax penalizes the poor, because they must spend money on the same necessities required by higher-income people. ![]() That simplicity would also mean no more loopholes.Another pro: most Americans would no longer need to pay for a tax preparer or Certified Public Accountant."That is a potential.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |