Great article in today’s Australian
…The moral case for a single rate of tax is even stronger. Yes, progressive income tax rates may well discourage effort and enterprise but they might encourage it too if people work harder still to make up for the rising rate of tax. Individuals should be treated the same regardless of what they earn. How can it be right to tax 38.5 per cent of a dollar of income above $80,000 but only 24 per cent of dollars below that level? It is an offence to procedural fairness and equity. In any case, a flat rate is not regressive -- higher earners still pay more.
Any reduction in revenue from a lower flat rate would be partly offset by the economic boon it would foster. Smart people employed servicing the tax would shift to jobs that produce goods and services people actually want. People would devote far less of their lives thinking about tax.
Makes sense to me, but the left will poo hoo it.
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