Quote:
Originally Posted by JAFF
There maybe some financial items, like 403 B, for educators that will require a grandfathering or adjustments so they are not harmed. That is a job of the financial minds of the nation.
Here is the crazy part of a flat tax. Successful people are punished for being successful. Go onto IMBD, and look at the number of movies the best actors made from the 30s into the 60s. You will see that they never made more than 4 movies in a year. If you did, all that money from the fifth movie went to taxes. There needs to be a mechanism took take the govt cut and allow the successful to see the rewards of their efforts.
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It would be impossible to have a sales tax that would not undo the tax advantages of Roth IRAs. Seniors would feel the biggest impact.
I know most disagree with this idea, but social security needs to be more fair when it comes to taxation and benefits. The upper cap on how much income is taxed is too low, and the idea that Bill Gates would receive social security is ludicrous.