That is, of course, not a "tax" question but a political question.
What do you think is meant by a "flat" tax? Do you really want to eliminate all deductions? Mortgage interest deduction? Gone. Married? You and your wife get taxed at the rate for as for singles. Kids? No exemptions for them. Sell your house? No exemption from capitals gains; it gets taxed at the flat rate, even if you buy another home to replace it.
Everything in the tax code was put there for a reason, from the reduced tax rates for married couples to the billion-dollar corporate welfare tax credits. Not necessarily for good reasons, mind you, but enough congressmen thought at one time that each of those loopholes was justified to vote them in.
Be careful what you ask for; you just might get it.
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Today's Featured Article - Stories From Old Farmer - by K. Pratt. Old Farmer, a.k.a. Dale Jensen began posting messages to our discussion forums at the grand age of 75. With extensive knowledge of farming and tractors, he valued the past and the ways that went with it. He shared these values with us until shortly before his passing. I spoke with Dale in his last days and requested his permission to share some of his stories with the readers of our magazine. He agreed, and provided the
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