The Flat Tax
The so-called "flat tax" concept has made the rounds of the U.S. Congress and local, state and regional discussion panels for many years now, but as yet the flat tax has not received enough support to be implemented. Advocates say it is far fairer and healthier for the economy than the current system. What precisely is the "flat tax" and who are the leaders of the movement to institute the flat tax? Before those questions are answered, it is appropriate to briefly review how the income tax came into being in America.Most people who are informed about the history of the income tax will say it was brought into being on July 2, 1909, with the 16th Amendment to the U.S. Constitution was passed. That Amendment was ratified by all the states on February 3, 1913.However, the history of the income tax goes farther back in history than 1913, according to the Library of Congress "Business Reference Services" Web site. In fact, the Congress passed the "Revenue Act of 1861" to help pay for the Civil War. That legislation included a personal income tax, the first in the history of the U.S. And then, ten years after it was passed into law, the Revenue Act of 1861 was repealed - mostly because the war was over and the country didn't need a
And a family (or single mom raising kids) could deduct $5,300 for each child that is depending on that family or parent. The single person who is head of a household (say, a single mother raising one or more children) would subtract $14,850 from all that she earned the previous year. For businesses, the Hoover flat tax would ". According to the Hoover Web site (http://www. Meanwhile, back to the flat tax, which was introduced as legislation and has been laying idle in the U. " What is this personal allowance?The average married couple filing a joint tax return would subtract $23,200 - no matter how much they earned as a couple during the previous year. Supreme Court ruled it unconstitutional because it was "a direct tax not apportioned according to the population of each state," as the House of Representatives is. And the Hoover proposal would be fair to all Americans because it would tax them once and "only once," and permit an allowance of $25,500 for a family of four (the same as Armey's proposal), the proponents assert. A single person, not the head of a household but single and living alone (or filing alone as part of a household) would deduct $11,600 from total earnings. com explains that all businesses would be treated the same, whether they are Microsoft, Starbucks, or a little corner grocery store owned by a mom and pop down the block.
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Acceptance Essays
