"America is built on freedoms - of speech, religion, press, assembly, AK-47s and your face."---Mike Strobel
When all is said and done there is nothing left to say or do.
Today is as good as it gets, and our tomorrows won't be any better
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"The trouble with Republicans is that when they get into trouble they start acting like cannibals"-Richard Nixon
The Flat Tax authors wrote that it “will be a tremendous boon to the economic elite”1 and also admitted that “it is an obvious mathematical law that lower taxes on the successful will have to be made up by higher taxes on average people.”
In February of 2010, ITEP estimated the impacts of the Flat Tax legislation introduced by then-Senator Arlen Specter of Pennsylvania. The estimates, which were cited by Citizens for Tax Justice, 3 confirmed what Hall and Rabushka said about the plan, which would result in:
Impact of Arlen Specter's Proposed "Flat Tax"
Income Average--Average taxes and Group Income Tax Change
Lowest 20% $ 12,400 increases $1,485
Second 20% $24,900 increases $2,299
Middle 20% $40,100 increases $2,678
Fourth 20% $65,500 increases $3,576
Next 10% $99,600 increases $5,182
Next 5% $140,100 increases $4,323
Next 4% $243,900 decreases $5,834
Top 1% $1,327,700 decreases $209,562
Bottom 95% $ 48,000 increases 2,887
So, for the upper middle class, taxes rise by $3576.
The upper 5%, at $140,100 to $243000, taxes rise by $4300.
Those above $243000, save about $6000
and those in the top 1% save $210,000.
When I was 5 years old, my mother always told me that happiness was the key to life. When I went to school, they asked me what I wanted to be when I grew up. I wrote down ‘happy.’ They told me I didn’t understand the assignment, and I told them they didn’t understand life.~ John Lennon