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Taxes Made Simple

Submitted by Jim Bennett, Jan 29, 2008 03:53

I do not see the substantive difference between this SET Tax and the Flat Tax. Both are single-rate taxes with few "subtractions" and a single rate that retain the Internal Revenue Code. While both deserve credit for simplicity, they are essentially income taxes that penalize thrift, effort and productivity and could lead, in increments, back to the unwieldy system we have today.

The Fair Tax does a better job of removing the penalty for work, savings and efficiency. Furthermore, the Fair Tax removes the Internal Revenue Service, making it more difficult to reinstate the old regime. Mr. Lifson has not sold me on this alternative tax reform.

~Jim Bennett

Summit, NJ

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Other reader comments on this article

Comment	By	Date
...now where is that Tea? Folks it's past time for that 21st Century Tea Party we have been waiting for.... [MORE]	FairTax Fan	Jan 29, 2008 23:08
The fact that this DOES NOT dismantle the Orwellian, privacy destroying, reporting mechanisms or the withholding mechanisms dooms this "plan"... [MORE]	Betty	Jan 29, 2008 17:39
The Fair Tax has over 23 million dollars in research thru the years. Has many economists from well universities such... [MORE]	Robert F. Liker	Jan 29, 2008 15:40
SET ia another version of a flat tax on income. History has proven such a tax does not work. Our... [MORE]	Fair Tax Supporter	Jan 29, 2008 07:41
I do not see the substantive difference between this SET Tax and the Flat Tax. Both are single-rate taxes with...	Jim Bennett	Jan 29, 2008 03:53
This proposal simply resets the current income tax system back in time so that it can regrow into the monster... [MORE]	Mark Kuster	Jan 29, 2008 00:12
But for the single rate, where's the difference between this and the current system? Oh, yeah. It would allow "'subtractions'... [MORE]	Charles Fink	Jan 28, 2008 23:50
These guys have got to be joking..SET tax.Why not call it the THUMB tax.Everyone will feel it each time the... [MORE]	FrionTx	Jan 28, 2008 23:03
This is just another tool for social engineering. Reward this and don't reward that. Nursery School for taxpayers. I'm sick... [MORE]	diane	Jan 28, 2008 21:38
I aplaud their effort but, their plan does absolutely nothing to mitigate the inevitable tweaking that led our one-time flat... [MORE]	Charles Transue	Jan 28, 2008 21:27
Straightforward unConstitutional direct taxation. Anyone who thinks this is tax reform just wants more Socialism. The 'authors' of this scheme are... [MORE]	FairTaxWarrior	Jan 28, 2008 20:32
This in no way compares to the benefits or fairness of the proposed FairTax. It does not do away with... [MORE]	Bill	Jan 28, 2008 18:50
This approach, while inventive, cotinues to allow politicians the opportunity to modify the tax code to satisfy various special interests.... [MORE]	Jim Ullom	Jan 28, 2008 17:36

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