Lake Minnetonka Liberty

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Tag Archives: Flat Tax

Huge Majority Of Americans Favor Flat Tax

6 in 10 of us favor a flat tax, where everybody pays the same rate. To use a term favored by the left, that’s “fairness.”

A rate of say 15% means someone making a million dollars a year pays 150k in taxes, someone making 40k a year would pay 6k. See Lefty, under this system the rich would pay more. Their “fair share” dont’cha know.

Who could possibly be against this? “All Men are created equal.” All taxes would be equal. What’s wrong with that?

But, there are some opposed. If you’re one of them, tell me (and the readers) why. Seriously. Why would you be opposed?

Most Americans continue to think the middle class pays more than its share in taxes and favor a system where everyone pays the same percentage of their income.

A new Rasmussen Reports national telephone survey finds that 58% of American Adults now support an across-the-board income tax percentage. Support for a simplified system like this has been growing from 44% in April 2009 to 55% this time last year.  Thirty-one percent (31%) oppose a system where everyone pays the same percentage in taxes. Eleven percent (11%) are undecided.

So come on. If you’re opposed, tell us why.

New Academic Study Confirms that Lower Tax Rates Are the Best Way to Reduce Tax Evasion

Leftists want higher tax rates and they want greater tax compliance. But they have a hard time understanding that those goals are inconsistent.

Simply stated, people respond to incentives. When tax rates are punitive, folks earn and report less taxable income, and vice-versa.

  • When tax rates increase, sometimes they engage in tax avoidance, lowering their tax liabilities legally.
  • When tax rates change, sometimes they choose to alter their levels of work, saving, and investment.
  • And when tax rates go up, sometimes they resort to illegal steps to protect themselves from the tax authority.

Read the rest at Big Government

Economist Arthur Laffer to Endorse Newt Gingrich

The designer of Ronald Reagan’s economic plan is endorsing former Speaker Newt Gingrich for the Republican nomination for president. Arthur Laffer, chairman of Laffer Associates, and the Laffer Center for Supply-Side Economics, also co-authored “Return to Prosperity: How America Can Regain Its Economic Superpower Status” (Threshold, 2010) with Stephen Moore, senior economics writer for the Wall Street Journal editorial page, and a member of the Journal’s editorial board.

Read the rest at Big Government

Gingrich’s Campaign Performance Transcends His ‘Personal Baggage’

Mitt Romney is still flip-flopping even as he seems ever more confident of the Republican nomination. Rick Perry is breathing life into his campaign, after his poor debate showings, with his new flat tax plan, which has been fairly well received. Herman Cain, the intelligent, accomplished, and optimistic man he is, nevertheless is encountering flip-flopping problems of his own, particularly around his stance on abortion and the question of the number of “9’s” in his economic plan. Ron Paul, polling the strongest he ever has over the years, still needs to convince more Americans that the elimination of major agencies of the federal government won’t make the country fall apart. Michele Bachmann may be fizzling out, despite her conviction to repeal Obamacare, and Rick Santorum, another individual of strong conservative convictions, still can pull ahead.

Read the rest at Big Government