said by fifty nine: said by cowboyro: said by fifty nine:
That's true. I'm against all tax credits/deductions too.
Make it 10% of all income for everybody, period. I'll gladly give up my home mortgage deduction and pay a slightly higher tax rate.
Do a calculation of how much your rate would be for the IRS to collect the same amount from everyone. You'll change your mind instantly... guaranteed...
I'm talking about a flat rate
, not a flat amount
2009 all individual returns = ~$5,091bil, generated tax $953bil
That's 20% give or take. Half of the $953bil was generated by those with $200k+ income.
Guess who would benefit most from such a change....