The United States Should Not Impose a Flat Tax Essay

The United States Should Not Impose a Flat Tax Essay

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A flat tax is a system in which a person’s income is not a factor and a single rate is set for all taxpayers. This kind of tax includes no deductions or exemptions. The United State’s current, progressive tax is very different from a flat tax, the most noticeable reason being that a progressive tax takes different percents of income depending on what income bracket a person falls into (Investopedia). During 2010 in the United States, “individuals who earned up to $8,375 fell into the 10% tax bracket, while individuals earning $373,650 or more fell into the 35% tax bracket” (Investopedia). When using a progressive tax, there are also a slew of deductions that people can take to lower their taxes, but a flat tax does not allow for any deductions; everyone has to pay the set rate (Irons). A flat tax is not a new idea, even in the United States, it has been proposed multiple times. Not long ago, Rick Perry and Newt Gingrich supported the flat tax during the 2012 Republican Presidential Campaign (Pethokoukis). In other places in the world it has become widely accepted and has already been implemented in over forty countries. The idea started in Hong Kong in 1947, but became more popular in the 1980’s and 90’s. “Among the first countries to adopt a flat tax system were Latvia, Lithuania, and Estonia, in 1994” (Lewis). Other small countries such as Mongolia, in 2007, and Seychelles, in 2010. Eventually even Russia, a country of monumental size, joined the flat tax movement in 2001 with a rate of 13% (Lewis). In the United States, A flat tax could make taxes much simpler by replacing all other income, payroll, and death taxes as well as many other excises while still bringing a good amount of money into the government and improving the ec...

... middle of paper ...>.
Pethokoukis, James. "Fix, Don't Flatten, the Tax Code." National Review Online, 28 May 2013. Web. 19 May 2014. .
Phillips, Kerk. "A Flat Tax Is Not Incapable of Funding the Government and the Poor." Deseret News, 19 Feb. 2013. Web. 19 May 2014. .
"Tax Brackets." Bankrate, n.d. Web. 18 May 2014. .
"What Are the Advantages and Disadvantages of Adopting a Flat Tax in the US? - Ask TaxGuru." Ask TaxGuru RSS. N.p., n.d. Web. 17 May 2014. .

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