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Originally Posted by Lisa GT  Care to explain? A flat tax at even 20% would be a lot of tax relief for our 'average' family. |
a flat tax of 20% would mean significantly less tax revenue. the only way a 20% flat tax would work is if government spending would be drastically cut.
people like to bitch and complain about tax breaks to the wealthy, but what most fail to realize is what percentage of tax revenue is paid by the wealthiest 10% in America compared to the average Joe. the more you make, the higher percentage you are taxed. 30% of $1,000,000 is a hell of alot more than 20% of $50,000. change that 30% to 20% and the government has $100,000 less tax revenue.