If Congress wants to balance the federal budget and avoid falling off the fiscal cliff, now is the time to advocate a flat tax, in the vicinity of 1 to 2 percent of gross income. I have advocated this tax in the past, and I would be willing to pay my fair share.
This tax would be levied in all fairness on all gross income for individuals, partnerships, businesses and corporations. There would be no adjustments, no credits, no deductions, no exemptions and no exceptions. If an indiviual’s income was $1,000, his tax would be $10. If his income was $1 million, his tax would be $10,000. If a corporation’s gross income was $1 billion, its tax would be $10 million.
The IRS Form 1040 would be reduced to one page. Write your senators and representatives to consider the possibility to equalize taxes for all people.
Robert Alfred Smith