Posted by Warm Southern Breeze on Wednesday, January 26, 2011
Some assert that everyone should pay the same rate of taxes, claiming that one “flat rate” would solve many problems.
I beg to differ.
The inequality of the so-called “flat tax” is quite simply, self-evident, because given that the cost of living is indexed similarly, the one whom has more income and wealth does not use as much to live, whereas the less fortunate and less wealthy use a greater percentage of their income to make ends meet.
Put another way, if it costs $500 annually to live, and you make $1000, that’s 50% of your income.
If it costs $500 annually to live and you make $10,000 that’s 5% of your income.
Who, then, does a flat tax benefit? Read the rest of this entry »
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Warm Southern Breeze 