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Introduction
We have the right to demand that our tax system be equitable, efficient, and supportive of our nation’s greatest economic growth potential. Sadly, our current tax system is very complex and costly, treats individuals unfairly, and hinders economy growth.
Congressman Armey and Senator Shelby propose a flat tax that would replace the current tax system with a 17 percent flat tax. ...
While many are in favor of the flat tax because it’s simple, fair, low-cost and pro-growth, there’s also many who are against flat tax because they argue that it’s unfair, it benefits the rich and it’s bad for the economy.
I will discuss here both point of views, the advantages and disadvantages of flat tax.
Flat Tax
H. ... 1040 or the Armey-Shelby Flat Tax was first introduced by Representative Dick Armey and Senator Richard Shelby on June 16, 1994. This proposal would levy a 17 percent flat tax rate on all income subject to tax. All the complexity resulting from different kinds of deductions, exemptions and loopholes will be eliminated and income would only be taxed once (A Flat Tax).
Facts About Our Current Tax System
Our current tax system is very complex, the Internal Revenue Service publishes 480 tax forms and another 280 forms to explain the 480 forms. ...
Statement
According to House Majority Leader Dick Armey, “Filling out an IRS tax form can be a frightening experience. ... My flat tax proposal offers a simple, fair alternative. It allows everyone to file their returns on a simple, postcard-sized form” (Flat Tax).
Summary
The Armey-Shelby Flat Tax would loss out the current tax code in favor of a system that would treat all Americans the same regardless of their income. According to Armey and Shelby, the flat tax would simplify the tax system, boost the economy and eliminate special tax loopholes that can only be used by a select few which will make the tax system absolutely fair (Doctor).
Approximate Word count = 1481
Approximate Pages = 5.9
(250 words per page double spaced)
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