Tuesday, April 10, 2007

Flat Tax Social Security!

Some conservatives love the idea of a flat tax, but are worried about social security running out of money.

Let's meet BOTH concerns by funding social security with a flat tax. That way we can see whether a flat tax works as advertised.

Currently, the social security tax is only partly flat; it is about 6.2% up to $90k, then it goes to zero. See http://www.ssa.gov/OACT/ProgData/taxRates.html

Let's just make it a flat 6.2% for all income. That'll make social security solvent for all time, and may be have a surplus for helping retire the general debt.

What say? Do we have a deal???

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