So Richard Murphy suggested I read this paper he wrote on flat taxes. I read some of it. I came across this in the executive summary:
In a flat tax system all income from capital (whether of gains or income derived from it such as dividends and interest) is tax free.
You what? What has this man been smoking? Is it necessary to read any more?
In
I don’t read things that have an “executive summary”.
I didn’t read past the part where he says that he writes for the Observer… only kidding.
You know exactly where this report is comming from in it’s ‘balanced’ introduction’ to the executive summary;
‘Emerging for some as the pananea for tax simplification, while viewed by others as unfair..’
Really, that is the to sides of the debate is it? Aha….
There were so many factual innacuracies and grand, yet inacurate, statements, as to what a flat tax is, and what it’s supporters (such as myself) ‘think’, I gave up in the end…
Alvin Rabushka said that
And he invented them
Tim adds: Source please. Not the invention bit, the no tax to capital income part. A quote, plus the URL of that quote is normal.
I think you can find it Hall and Rabushkas book. But I can’t see the relevancy, it’s not a necessary part of at flat tax regime. If I recall correctly, Hall and Rabushka favored consumption taxes and they wanted a cash-flow tax for the corporations instead of a capital income tax.
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