The American Tax System And The Flat — страница 3

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Service and the Tax Foundation, the flat tax will have no meaningful effect on home values. Consider how a sharp reduction in interest rates would affect the average family that earns $50,000 and deducts $5,000 in mortgage interest. The home mortgage deduction saves this family $750 in taxes, where a 25 percent drop in interest rates saves it $1,250 in lower interest payments. That family is $500 better off under the flat tax with lower interest rates–even without the home mortgage interest deduction (and not counting the higher personal exemptions). Also, as incomes rise under the flat tax, so too may donations to America’s charities. The flat rate income tax is the answer to most of the problems in our income tax system today. It would greatly simplify the tax system,

saving taxpayers and businesses immense amounts of time each year. Most of all, it would make the system fairer by reducing deductions, exemptions, and loopholes. If this bill is put into place, doing taxes would be a lot easier and fairer to Americans everywhere.