No stock market, no investsments, and no savings account, and least not ones with such returns as we have today. Now, with all that being said when this country was first founded had they instituted a flat tax I believe it would have worked much better.

If the interest from a savings account or the returns on an investment would be ignored by a flat tax, how could I, as the lower class person, support such a thing? All that would do is keep me in the lower class and him in the higher class. While the two are being taxed at the same rate the CEO would have, probably, more than one other source of income. However, the lower class guy only has one source of income, his job. So, to my understanding, if you were to take someone from the lower class, who works in a machine shop making twelve dollars an hour and tax his earnings at a flat ten percent and then do the same to a CEO of a large company that would be considered fair. As one other poster pointed out a flat tax usually doesn't include savings accounts or investments. While a flat tax does seem like a good idea, I disagree entirely with it. Why, of course we hold that all men are created equal! Apparently, they just shouldn't be taxed that way! Sure, our society may already be rife with all sorts of interclass injustice. Beyond any of this, though, is the simple fact that it's unjust to penalise a person simply because he or she makes enough money to fall into a higher bracket.

Meanwhile, nobody who pays their share understands a bit of it. The rich still get richer, they still don't pay their portion, and everyone else is still left holding the bag. I fail to see the logic in sustaining a system bloated with bureaucracy and riddled with loopholes, all built to serve those with the power to influence the policies, and merely divert the general public. The cons mentioned are presented under the assumption that the rich and super rich actually do end up paying what the brackets would indicate. A flat tax, or something using the flat rate as its base, just makes sense.

Pros and cons of flat tax rate