The case for a single tax

Have you read David Leonhardt’s exposé in the N.Y. Times “The Rich Really Do Pay Lower Taxes Than You“? According to Mr Leonhardt: “For the first time on record, the 400 wealthiest Americans last year paid a lower total tax rate–spanning federal, state, and local taxes–than any other income group ….” What this selective quotation does not tell you, however, is that the overall tax rate on the richest 400 households last year was “only” 23 percent and that the top 1% paid the highest total tax rate (between 29 and 30 percent)! So, why not get rid of all taxes and replace our current complicated and convoluted system with a “single tax“? (In case you are wondering, here is a list of the 400 wealthiest Americans.)

Tax 2019 Regressive

About F. E. Guerra-Pujol

When I’m not blogging, I am a business law professor at the University of Central Florida.
This entry was posted in Uncategorized. Bookmark the permalink.

1 Response to The case for a single tax

  1. ragnarsbhut says:

    We should enact the Fair Tax.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s