Advantage/disadvantage of flat tax?
473431
pro - simplify the tax process\n\ncon - poor and middle class would pay higher taxes\n\nfor the people who think a flat tax would not hurt poor people, \nif aprox. 17% of income is collected as tax revenue and rich people pay over 30% of their income to irs where would the shortfall come from?
117277
There are no advantages or disadvantages, it's just a short term weather cycle.  It's like asking what's the advantage to rain?  It you're asking, it doesn't influece global warming or any crap like that.
331535
1). Keep own money -- Some people do not like higher taxes because they do not want to part with their money.\n\n2). Bad appropriation -- Some people do not like higher taxes because they disagree on what their tax money pays for.\n\n3). Small government -- Some people do not like higher taxes since they believe that the government should play a minimal role in our lives, thus, it does not need all that money to operate under such a minimal role.\n\n4). Bloat -- Some people think that the tax money is wasted in government bloat, thus higher taxes would just be more bloat.
284629
It's a good idea. I feel a flat tax should be on all income with no exemptions. It should be imposed on all income above what is determined to be the poverty level plus 10%.
19124
It can be more complicated than you would think.  Lets say you can only afford a 70-80k property.  Renting may be a far better choice in a market with limited appriciation.  Factoring the 2 benefits of home ownership (interest deduction and appriciation) compared to the cons ( maintenance, up keep and taxes) a rental scenario may be much more financially prudent on smaller homes.\nThe iterest deduction may not be more than your standard deduction esspecially with several dependants and the maintenace on a smaller and most likely older home may be a greater percentage of the occupants gross income.\nApartments have stability in cost and limited to no cost to maintain.
589298
On the Federal level it is doubtful there are any tax-benefits unless maybe you build "affordable" housing. As far as state and local tax breaks are concerned: possibly. I doubt San Diego or California has any such incentives. If you build in an area without any hotels/condos and have a community or state wanting to build up their own tourism industry, then there may be generous tax abatements, tax deferrals, and other incentives.
202564
You have a good point there.  Yes, a flat tax would definitely be the best.  That way more people would be encouraged to start businesses, or expand their existing businesses, thus creating more jobs for everybody.\nThe current tax system is "supposed" to make the income more equal to everybody, when in fact it's the middle class that pays the most taxes - not the welfare people, 'cause they don't earn money, and not the business owners (which would be considered rich), 'cause of the write-offs allowed.  The people in favor of the progressive income tax are shooting themselves in the foot, and don't realize it.
35253
Saving money (i.e. paying less interest to a bank) is never a disadvantage.  If you can afford to pay bi-weekly I select this method you will save additional interest.  If you simply make one payment extra per year you will save interest and shorten your mortgage length but it will be slightly less empactful than a bi-weekly payment plan.
81873
No, it is not in their personal best interest.  A simple flat tax would fix all, but they won't do it, as the population would understand each time taxes were increased, and it would prevent them from using tax laws to reward cronies, businesses and supporters.
646606
There are none. Tax is a neccessary burden on the economy for government apparatus to function, and does not affect economy, at least positively.
910157
A flat tax would tax everyone at the same rate (percentage).  There would be no exemptions or exceptions.  There would be no loop holes for the very rich to use.  A flat tax would almost eliminate the need for an IRS.  That alone is a good reason to implement a flat tax.  The other tax that has been discussed with the "USE TAX".  That would tax everything we buy but not everything we earn.
948605
The sales tax is the most fair tax of all.  If you are rich, you buy more and therefore pay more taxes.  If you are poor, you don't pay as many taxes because you can't buy.  This of course relies on the current tax laws which exempt staples (food, water, etc) from sales taxes.\n\nI would support a national sales tax and have the income tax and all deductions stopped.
1078492
My husband and I are one of "those folks".\n\nPersonally I favor a flat tax.  To me it is the fairest way to to tax individuals on their earned income.  If everyone where to pay say 20% (with no loop holes), then we would all be paying the same.  The only exception might be for the lowest of incomes, say those who make $20,000 or less.\n\nI do not believe it is fair to penalize someone for making money.  I have a good income because I have worked my butt off to get there.\n\nEnough said.
1071060
I'm not sure about your question--which is better?\n\nWhen you have a mortgage, early on the bulk of the payments are interest, and you can deduct that amount on  your income tax.  A good deal.
1122839
The most important benefit is that one gets to earn (or pay oneself) before taxes whereas employees usually receive income after paying all taxes.
1042670
6 mo t-bills pay 5% and that is likely to increase. They are relatively safe and free from local taxes.  If you live in a high tax locality, that will beat cds. You can set up an account directly with the U S government and role them over as they come due.
89250
Read Neal Boortz's book "The Fair Tax".  \nThe fair tax gets rid of all federal income and payroll taxes and replaces it with a 23% consumption tax.  \n\nPeople get a prebate each month to cover taxes on the basic necessitys of life. \n\nYou get your whole check (gross) not just net.\n\nCorporate taxes presently account for 23% of an items price now.  That would disappear so you would be paying about the same for everything.\n\nAnd with no corporate taxes America would become the worlds biggest tax shelter.  Industries would be running over each other to set up shop in the US.\n\nCheck it out.\n\nMy 2 cents