The Flat-VAT-FAT plan

The Falconist Party and I came up with a new tax plan called the Flat-VAT-FAT plan. It consists of the following elements.

  1. A 20% Flat Tax on the income of both individuals and corporations with a $20,000 deduction for individuals and $50,000 deduction for families.

  2. A 20% Value Added Tax (VAT) which will replace the payroll tax, finance universal health care and give annual rebates of $3000 to every man, woman and child living in the USA.

  3. A 1% Financial Action Tax (FAT) on all securities transactions.

  4. Raising the Estate Tax on estates worth at least $1 million.

  5. Repealing the alternative minimal tax

Who’s your candidate and what is being done to promote this party beyond an occasional mention on this small forum?

Keep the $3000 and get rid of the 20% VAT

Why not just have a flat tax?

I know right? I was asking the same question! I really despise progressive tax structures and this is no different.

Are any of our current tax laws constitutional?