Share your comments on this topic in the comments section below:
Former President Donald Trump is considering backing a 17% federal flat tax. Do you support this?
Vote in the poll: www.nfrw.org.
Roger Schweikert, 4/19/2024 9:08 AM
Although a flat tax of 17% may have its merits, I would prefer to see almost every federal political campaign donation be taxed instead via a minimum 50% excise tax since most campaign donations are less of a "free speech excercise" and more of a :grease the gravy train tracks" kind of contribution that adds to the national debt and should therefore be imposed and used in turn to specifically reduce that same debt.
Velma, 4/19/2024 9:49 AM
A flat tax is no more fair than the graduated income tax we have now. A person with a lower income has less buying power after taxes than a person with a higher income. A consumption tax is the most fair tax for all people.
Jennifer Nelson, 4/19/2024 9:55 AM
In college the first thing I learned is a flat tax is the most unequal tax. look at your tax return, take the tax liability and divide by your income. That gives you your effective tax rate. The rich will pay less and those with less income will pay more. This is a true flat tax.
Mary Miller, 4/19/2024 10:05 AM
A "flat tax" on what? A lot of people do not have an "income" their money comes from investments which are taxed as capital gains. As far as "college" is concerned their reasoning is not conservative. Unless you attended Hillsdale. Income tax is a "spaghetti bowl" of laws. Just call the IRS more than once and ask the same question, you get different answers. Maybe they should abolish the income tax and the IRS.
Sarah Murphy, 4/19/2024 11:18 AM
I am usually a yes or a no on these polls. However, this one is a "not sure." I would have to know a lot more about the plan before deciding. One thing is will they continue any exemptions? I can see this being so watered down in the end that it would not be very effective.
Michael Ann Gutter, 4/19/2024 7:28 PM
I am a 77-year-old woman and Social Security is my largest source of income. I pay the 12% level since I turned 62. If the flat rate happened, I would have to pay more than I do now. This would cause me to live on the streets.
Jo Ann Arneson, 4/19/2024 9:24 PM
Yes, but only if the income tax is done away with.
Jan, 4/20/2024 12:28 PM
I have advocated for a flat tax with no deductions for quite some time, although I'm not sure whether 17% is the correct percentage. A flat tax would have the added benefit of requiring fewer IRS employees. Anything that streamlines the federal government is worth serious consideration.
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geometry dash<, 7/8/2024 5:23 AM
It would be fascinating to see how this change might impact different income groups and the overall economy.