Implementing A Flat Tax System Essay

Implementing A Flat Tax System Essay

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I. You might have heard politicians in the news, talk about overhauling our tax system with a new fix-all idea, the flat-tax. This would simplify our overly complicated tax system and might seem appealing at first glance, however there are serious problems with it.
II. Implementing a flat tax without significantly increasing the deficit is impossible without shifting the burden from the rich to the middle-class, instead our current progressive tax policy needs to be changed so that it is simpler and does not allow corporations to abuse the tax loopholes.
III. I will first go over the principle problems with the flat tax, then talk about our current system’s failures, and finally finish off by offering some reforms to fix our tax code.
(TRANSITION: But before we get into all of that, the questions I asked you for my audience analysis revealed that not all of you are as riveted by tax policy as I am-shocking I know-, so I will clarify some of the jargon I will be using. First the progressive tax is a tax system where the tax rates increase with income earned. Let’s say the first tax bracket is set at 50,000 dollars, and the first tax rate is set at ten percent, and the rate above it is set at twenty percent. So, if you make 70,000 dollars, the first 50,000 will be taxed at ten percent, while the next twenty thousand will be taxed at twenty percent. I hope that is clear. And the flat tax simply is a tax with a constant rate. Now on to tell you why that constant rate is a bad idea.)
Body
I. Instituting a flat tax would have serious implications for our economy.
A. First and foremost it would shift the burden of taxes from the rich to the middle-class
1. According to the study”Simulating a Flat Tax Model: What Are the Li...


... middle of paper ...


...he LA Times piece “First, fix the tax
code(2013).”
a. and this would greatly simplify our complex system
without affecting the most vulnerable among us.
(Transition:Now that I have given you my ideas for reform, I will wrap it up before I start to sound too much like Bernie Sanders.)
Conclusion
I. I hope it is now abundantly clear to everybody that it is impossible to institute a flat tax that raises enough revenues for our country to function and does not raise taxes on the middle class simultaneously.
II. This nation is in desperate need of tax reform and the reforms I suggested are a great start to shaping a fairer, and more effective tax policy.
III. And as I close I challenge all of you in this upcoming voting season to research the candidates you are going to vote for and ensure that they will push for the changes we need to get our economy back on track.

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