Rand Paul’s tax plan consists of one number.
Seventeen. One-seven. One more than 16, one less 18.
That would be the Kentucky Senator’s tax rate: 17 percent, flat, for everyone. No more complicated waivers and loopholes and different numbers for different people. Your share is 17 percent of what you make. That’s it.
Here’s his explanation:
“I’ve been promoting for awhile now – and it’s going to be a big plank of what I do going forward – is promoting a flat tax,” Paul said on CNN‘s American Newsroom. “Very few, if any, deductions; same for individuals, same for corporate. This would make us competitive worldwide, we’d make it simple enough.”
By the way, you can watch a short video of Paul’s explanation below.
So there it is, plain and crystal clear. One number for everyone and everything, leave it at that.
Even better? It’s so simple, the behemoth known as the IRS really wouldn’t need to exist any more. That way we could avoid potential scandals like, you know, political groups who might be against the Obama administration from being unfairly targeted based on keywords in their organization’s name.
The first step though is just simplifying things, making the tax code easier for everyone to understand. (Seriously, there’s a reason big corporations pay lawyers millions of dollars to do their taxes…you’d have an easier time explaining quantum physics to most people.)
That would lead to a more efficient, leaner government. And probably less anxiety for Joe Sixpack come tax time, too.
Even if it isn’t exactly 17 percent, Paul has publicly come out in favor of “any program or idea” that would help clean things up and make it easier for regular Americans to get their taxes done. The fact that many people have to hire someone else to do taxes for them is a sign that the system is broken, Paul says.
What do you think: Would a flat tax make your life easier come tax season? What changes to taxes would you like to see, changes that would make things easier on you? Let us know in the comments!
Photo courtesy of John Althouse Cohen, via Flickr Creative Commons
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