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Old Posted Apr 8, 2012, 11:23 AM
bornagainbiking bornagainbiking is offline
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Join Date: May 2008
Location: East Hamilton
Posts: 780
Flat tax, All in.

There seems to be so much confusion on taxes. I think it is set up this way so no one really understand this elaborate walnut shuffle shell game.
There are many people involved in this shuffle, and a HUGE government beaurocacy.
Maybe it is time for a flat tax for all and eliminate all the loopholes. RRSP's, tax free saving accounts, etc, etc, etc
Everyone pays say 25%, and if you want your retirement savings will be your savings account. No, pay so much per year, get a tax refund or exemption and pay tax on it later when you retire at a lower rate.
I know, I know this is simplistic and may rub some wrong as this is a big industry. But, it was suggested several years ago as a political point.
People complain that the rich use loop holes to avoid taxes or not pay their fair share. Well just get rid of the loopholes with a flat tax no exemptions.
There would have to be some consideration for the low income earners.
When this was explained to me at a town hall meeting it sounded good, and I imagine, someone in here will highlight the downfalls.
Thanks
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