Sure, A Flat Tax Would Be Great!

After all these years, I still hear people that think a flat tax would be a good idea. They do not respond to the concept that 10% (for example) of $10 million still leaves a person at that income level with $9 million. Whereas a person making $20,000 paying $2000 can mean the difference between eating or not eating, seeing a doctor or going sick.

So fine. Let’s take a different approach. I agree. Let’s implement a flat tax.

That is, as long as we also implement a flat income. For everyone. How does that sound? For the flat tax proponents, I’ll bet that doesn’t sound so good, does it?

I am actually very much in favor of an equal income for all Americans. For real. It’s reasonable. For every household in the country to receive the same income regardless of number of household members. I would find that to be exceedingly fair. Or even every American above 18 years old.

Then implement a flat tax. So every adult in the country has exactly the same chance of success as every other adult in the country.

How about a flat estate tax, too? At least above a certain threshold. Say $1 million. Tax anything above that at 100%. If you “need” more than a $1 million inheritance, there’s seriously something wrong with you. That number could be adjusted in the future according to inflation. Along with the flat income.

How about a flat wealth tax? Maybe $5 million. Once again, if you “need” more than that, what you really need is therapy. So tax…