Why a Flat Tax Is the Right Way to Go on Taxes

[Geee]

Human Events:

Last month Senator Rand Paul of Kentucky proposed blowing up the tax code and replacing our convoluted income tax system with a14.5 percent flat tax. This may be the most ambitious and pro-growth reform plan ever introduced since the income tax was introduced 100 years ago.

 

The Rand Paul flat tax would eliminate corporate income tax, the payroll tax, all excise taxes and tariffs. All 70,000 pages of tax code would be shrunk by 90 percent because almost all deductions would be eliminated. No one knows for sure how many more jobs this would create and how much faster our economy would grow, but the experts at the Tax Foundation estimate 2 million more jobs and 10 percent more growth over a decade. That’s $2 trillion more output every year – which is like adding another California to the economy.