A flat tax would be a set percentage of total income. It would cause the rich to pay more since they wouldn’t have their deductions and loopholes, that’s why there’s so much bullshit propaganda against it.
The rich also have a hell of a lot more to tax. They SHOULD be paying a higher percentage of their wealth in taxes because they’ve gotten a much greater benefit out of the services those taxes pay for than a poor person.
Explain
If you make $50k annually and are taxed at a flat 25%, you’re paying $12,500, leaving you with $37,500.
If you make $500k annually are are taxed at a flat 25%, you’re paying $125,000, leaving you with $375,000.
It’s a hell of a lot more difficult to support yourself and your family on $37,500 than it is on $375,000.
If one earns $10,000 per year, a $2,000 annual tax is 20% of annualized income.
If one earns $100,000 per year, it’s 2%.
The less one earns, taxes are a greater proportion of total income.
Often, flat tax concepts come (or should come with) tax exemptions for actual low-income folks.
A flat tax would be a set percentage of total income. It would cause the rich to pay more since they wouldn’t have their deductions and loopholes, that’s why there’s so much bullshit propaganda against it.
The rich also have a hell of a lot more to tax. They SHOULD be paying a higher percentage of their wealth in taxes because they’ve gotten a much greater benefit out of the services those taxes pay for than a poor person.