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Tuesday, August 31, 2004

Blitz Battle: Federal Taxes

For years upon years, what constitutes a fair tax plan has been debated and debated and debated over and over again. In congress, media, and state governments, what is "fair" seems to vary depending on whom you ask.

It is not surprising to note, that the current federal tax code is THOUSANDS of pages long, if not longer if it is compiled in totality. So why does it have to be this complicated? Is there a simple, fair way to make sure everyone pays an equal and fair amount of their income to the tax man?

One example of a tax concept is the flat tax. That is to say implementing a flat income tax across the board for everything. On an embarassing note for us in the good 'ol US, Russia has met with success a 13% flat tax, and so far, it seems to be working fairly well, given the fact that its implemented in Russia, a country wracked with problems more pressing than fair taxes. In Iraq, Paul Bremer implemented a 15% flat tax. How that one will turn out with the oil revenues, we don't know yet. But we shall see soon I expect.

Others still disagree that this is a fair system, and claim that the lowest tax bracket should remain paying a 0% tax while the rest of us pick up the tab.


are you ready?


GO!

-Chris from NH

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