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Health & Fitness

Flat Tax Rate, Is That The Answer?

The Tax Rate doesn't appear to be fair to all. The Tax rate needs to be the same, whether you earn minimum wage or a seven digit income.

I feel we need to change our Income Tax System and quickly.  It seems the lower the income you make, the more Income Tax you pay.  Why?  The six, seven and eight figure Income Earners can afford CPA's and Tax Attorneys to guide on how to avoid paying Income Tax.

The average $50K and below income citizens do not take the time to learn all of the thousands tax law changes every year.  They simple complete their 1040 or 1040A, not even understanding what all of the line items are and settle for what the end result shows.

There is only one fair way to handle Income Tax and that is a Flat Tax Rate for ALL.  No more benefit or punishment for being married or not, having children or not, owning a home or not, having a home office or not, being self-employed or not, being retired or not.

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If everyone paid a Flat Tax Rate of 10% of Gross Pay, it would be fair to all.  The higher your income, the more income tax you should pay, you can afford it.  We would no longer need to file Tax Returns and better yet, No Further Need of Internal Revenue Service.

Now some would say that the Flat Tax rate would no longer encourage Americans to save money in 401K, Roth, etc.  Well, it is your retirement, your future and you better be concerned about how you will survive in your retirement years.  Is it really necessary for the Government to teach or force you to save money for your retirement?  We need to be responsible for our future, not the Government.  If you are solely relying on the Government to take care of you, such as Social Security, you better have a reality check and quick.

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What do you think about a Flat Tax Rate?  Do you think it would improve our Economy or hurt it? Is it time for the American People to be responsible for their Retirement years? If you do not agree with a Flat Tax Rate, Why?  What suggestions do you have to make our Tax rate System fair to all?

This is not about the Political Party you support, it is about the American People and the current Tax System that does not work.

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