Time Yet for the Flat Tax?

Taxes have become a big issue again in this election season. Every democrat on the ballet has a least one or two wacky schemes they claim are free. Free college, free healthcare, etc. But when pressed, they have to admit that taxes will be drastically raised to pay for for these plans.

And the reason they can get away with it is our progressive tax system.

I’ve been a proponent of the Steve Forbes Flat tax plan for decades. I even supported him in 1996 when he ran for president. One of my sons and I even met him on the campaign trail and had an hour-long conversation with him. very smart man.

It was then that I first heard of his flat tax idea, as he explained it to me in detail.

Well., he’s still pushing it and like then, it’s still a great idea.

Prager University thought so, as they asked Mr. Forbes to expound upon it for one of their famous short videos: read more

Video Podcast – Let’s Talk Taxes

by: Brent Smith at the Common Constitutionalist

The Senate has now passed their version of Tax Cuts and Jobs Act. The House has already passed their version. Now it’s on to joint committee to iron out the differences and vote. Then it’s off to the President’s desk for his signature.

Is the Senate version any good? That depends on you ask. But it’s an improvement over our current mess.

The only republican to vote against it was Bob Corker of Tennessee.

I’ll discuss the bill, what a phony Senator Corker is and my thoughts on the bill. I’ll also give my sales pitch for a different type of tax. read more

Just Say No to Trump’s Progressive Tax the Rich Plan

by: the Common Constitutionalist

There have been plenty of candidates on the Republican side who have advocated for a flat income tax. Most, if not all conservative Republicans have offered up some variation.

And given a choice between the current tax system and a flat income tax, most people, me included, would choose the flat tax.

A flat tax is a good gauge of just how conservative a candidate really is. After all, a progressive income tax is just that – progressive – and aren’t we, or shouldn’t we be done with big government progressives?

So when we hear Donald Trump say he’s a conservative who wants an additional tax levied on those wealthy Wallstreeters, Hedge Fund Managers and the like, we know he can’t be a conservative, as we define it. So, by extension, anyone who advocates for any sort of flat tax is automatically more conservative and less a big government progressive.

One of the major reasons those who advocate for a flat tax is the incredibly complex and burdensome tax code, and the IRS itself. By instituting a flat tax we can rid ourselves of virtually the entire tax code, thus eliminating 90+% of the IRS.

As an added benefit, there would be no more need for lobbying firms in Washington. Lobbyists flood D.C. for a singular purpose. They are there to make back room deals – buy influence, favors and most importantly, tax exemptions. They pay millions of dollars every year to lobby politicians into writing carve outs for their clients, to lessen their tax burden. It’s a total racket. The flat tax would eliminate all of this.

So, it sounds like I’m firmly against Trump’s populist wealth and Hedge fund tax idea, and I am, but I’m also not in favor of a flat income tax. If we must be taxed, and we must, it should not be on our production, but on our consumption. read more