"I love a flat tax."
The problem with such a tax, however, is that it is quite regressive, meaning that the poor and Middle Class would end up paying far more than the rich (more on this later).
Sources: Hardball, Daily Caller, New York Times
Monday, October 24, 2011
The Republican Love Affair With A Flat Tax
First it was Herman Cain with his 9-9-9 plan. Then earlier today, Rick Perry announced that he will be revealing his own flat tax plan tomorrow -- one day after Steve Jobs endorsed him. If you recall, Jobs' proposed his own flat tax plan during his 1996 and 2000 runs for the presidency. And now, Mitt Romney, who previously targeted Steve Forbes' proposal as a "tax cut for fat cats," has been reported by the New York Times as also favoring a flat tax.
The problem with such a tax, however, is that it is quite regressive, meaning that the poor and Middle Class would end up paying far more than the rich (more on this later).
Sources: Hardball, Daily Caller, New York Times
The problem with such a tax, however, is that it is quite regressive, meaning that the poor and Middle Class would end up paying far more than the rich (more on this later).
Sources: Hardball, Daily Caller, New York Times
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