Tuesday, June 9, 2009

Govenator Considers a Flat Tax

Schwarzenegger suggests state consider flat tax
"Gov. Arnold Schwarzenegger said today that he would like to see such “radical” proposals come out of a commission now studying an overhaul of the state’s tax system."

The current system, based on highly unstable income tax revenue that fluctuates with the economy, “doesn’t work,” Schwarzenegger said."
Ya no kidding Governor, you people just now finding that out?

"Advocates of a flat tax, which applies a single tax rate to all income, say it increases compliance with the tax codes because it is so simple and easy to understand. But opponents dislike that it taxes the wealthy at the same rates as the poor."
In other words opponents dislike it because it is fair.

Full Article: http://latimesblogs.latimes.com/lanow/2009/06/flat-tax.html

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