Dr. Ben Carson Calls for Biblical Approach to Taxes, Flat Rate of 10%

[nashvillegoldenflash]

GOP presidential hopeful Dr. Ben Carson may be a self-proclaimed political novice, but on this issue the man is spot-on.

We all know that our thousands and thousands of pages of tax codes and regulations are increasingly spiraling out of control, which is why a flat-tax makes makes sense for everyone.

No, the well-off should not have to account for the majority of taxes paid in this country, because without them, most of us would be unemployed. The skillfulness and fortitude it takes to become a millionaire or billionaire should not be met with anger by the liberal public, but rather, how can I do the same to earn as much?

Here’s Ben Carson’s Biblical take on why a 10% tax for everyone would work well for America…

From Yahoo:

Republican presidential candidate Ben Carson said on Sunday his proposed flat-tax plan of about 10 percent was inspired by the biblical practice of tithing.

“You make $10 billion a year, you pay a billion; you make $10 year, you pay one. That’s pretty damn fair if you ask me,” Carson said on “Fox News Sunday.”

It’s more than fair. It’s so fair that it actually makes sense, which will confound the Left.

“I like the idea of a proportional tax – that way you pay according to your ability,” Carson said. “I got that idea quite frankly from the Bible.”

“Poor people have pride, too, and they don’t want to be just taken care of,” he said, adding that his plan would eliminate loopholes in the U.S. tax system and make it hard for politicians to raise taxes.

Carson might be a long-shot to win the Republican nomination, but if he keeps spouting commonsense ideas to real problems, the man may just win over enough conservatives and Independents to push through.

http://www.youngcons.com/dr-ben-carson-calls-for-biblical-approach-to-taxes-flat-rate/

 

[RaiderDawg78]

The current tax code needs to be changed. In theory, a flat tax seems like a logical fit. However, in application, a flat tax alone is not the answer (see below). If we go with a flat tax, we are probably going to add a bracketed federal sales tax.

If you set the flat tax at 10%, then the US will lose ~1 trillon in tax revenue (or about 50% of current income tax revenue). So now, instead of 3.32 trillion in total tax revenue, you only get ~2.3 trillon. Currenlty we have 2.56 trillion in mandatory spending (unemployment, social security, medicare) & 1.6 trillon in discretionary spending (military, education, housing, transportation, international affairs, etc.). We currently have to borrow over 500 billion to cover our budget. We would have to either borrow more money or we could cut the 1.5 trillion from the budget (the taxes lost plus the money we are borrowing). Where do you cut? Housing? Unemployment? Military? Medicare for the retired? Let the country's roads get worse than they are now? Plus we still owe 18+ trillion in debt.

The other option would be to set a flat tax at a rate that would cover most of our current expenditures. To cover our current expenditures, most estimate a flat tax rate of 20 - 25% is needed. That would raise taxes on the bottom 3/4 households and would drop tax rates on individuals making over $90,000 or households making over $151,000. Try telling a divorced mom of 2 that is working a full time minimal wage job ($15,080) and trying to go to night school that she is needs to pay $1500 MORE in taxes to be "fair" while someone making $250,000 just got a $20,000 tax cut.


Also, evidence from European countries that implemented flat taxes indicates that flat taxes can work if the economy is strong, however if the economy is stalling or in a recession, then it actually can devestate the poorest 25% worse than now. In some countries, (Czech, Slovakia, etc.) have actually REPEALED their flat tax after their economy went so bad. Seriously, what happens if the economy turns and the country needs more money? If there is a flat tax, you must increase the burden on those already hurting.

Again, I HATE the current tax system and it needs to be changed, but I don't see how a flat tax alone is realistically the answer, when you look at the numbers.

Source for numbers: U.S. Office of Management and Business, Business Week, and National Priorities.