If you have a flat tax on income; with no consideration of what it costs to generate that income; many self employed or small businesses will be paying more in taxes than they "cleared". If you start allowing deductions or exemptions; how is it any better than what we have now??????? There are many businesses that "handle" lots of money; but; get to keep very little. For instance(and from experience); a truck owner / operator may generate over $200,000 in income; but; after fuel, insurance, truck payments and operating costs; the "net" take home income may be as little as $30-50,000. He worked all year to make 10-30,000 after flat tax. If he had a bad year with some major breakdowns and repairs; he pays more in tax than made.
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Today's Featured Article - History of the Nuffield Tractor - by Anthony West. The Nuffield tractor story started in early 1945. The British government still reeling from the effects of the war on the economy, approached the Nuffield organization to see if they would design and build an "ALL NEW" British built wheeled tractor, suitable for both British and world farming.
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