Steve Forbes (who ran unsuccessfully for the Republican nomination in 1996) is a billionaire who, like so many conservative billionaires (like the Koch brothers, Walton heirs, Mercer heirs, Steve Forbes, Mitt R-money, Bush family, and of course Donald Trump and his kids), inherited his wealth from Daddy, Malcolm Forbes, and thinks he is a “self-made rugged individualist” and believe that workers should WORK HARDER for LESS MONEY on which we pay a HIGHER TAX RATE, so the few richest elite investors can WORK LESS (or not at all, depending on how much they inherited from Daddy) for MORE MONEY on which they pay a LOWER TAX RATE (or none at all, depending on how many loopholes, shelters, deductions and offshore Cayman Islands accounts they can hide their money in).
As for the Flat Tax, in order to be revenue neutral and just a straight adjustment of taxation principles, it would represent a massive REDISTRIBUTION OF WEALTH from poor and working people to the few richest elites who already have the most.
In a true progressive tax system (which we don’t have, since the few richest elites can use deductions, loopholes, exemptions and shelters as well as special lower rates on investment profits to actually pay LOWER rates than working people), everyone pays exactly the same rate on the portion of income in the same income layer (tax bracket) and would only pay a higher rate on the PORTION of income in each higher layer of income.
Steve Forbes (who ran unsuccessfully for the Republican nomination in 1996) is a billionaire who, like so many conservative billionaires (like the Koch brothers, Walton heirs, Mercer heirs, Steve Forbes, Mitt R-money, Bush family, and of course Donald Trump and his kids), inherited his wealth from Daddy, Malcolm Forbes, and thinks he is a “self-made rugged individualist” and believe that workers should WORK HARDER for LESS MONEY on which we pay a HIGHER TAX RATE, so the few richest elite investors can WORK LESS (or not at all, depending on how much they inherited from Daddy) for MORE MONEY on which they pay a LOWER TAX RATE (or none at all, depending on how many loopholes, shelters, deductions and offshore Cayman Islands accounts they can hide their money in).
As for the Flat Tax, in order to be revenue neutral and just a straight adjustment of taxation principles, it would represent a massive REDISTRIBUTION OF WEALTH from poor and working people to the few richest elites who already have the most.
In a true progressive tax system (which we don’t have, since the few richest elites can use deductions, loopholes, exemptions and shelters as well as special lower rates on investment profits to actually pay LOWER rates than working people), everyone pays exactly the same rate on the portion of income in the same income layer (tax bracket) and would only pay a higher rate on the PORTION of income in each higher layer of income.