Flat Tax
Tax return on a postcard
The Steve Forbes Flat Tax Form
1. Wages & Salary
2. Number of adults in family
3. Number of children in family
4. Deductions for adults (multiply line 2 by $13,000)
5. Deductions for children (multiply line 3 by $5,000)
6. Total deductions (line 4 plus line 5)
7. Taxable income (line 1 minus line 6)
8. Tax (multiply line 7 by 17%)
Source: ?A New Birth of Freedom,? p. 70 Nov 9, 1999
This is what Steve Forbes was talking about in his presidential campaign in 2000. His main objective was to stop taxing and the enormous spending in Washington D.C. his proposal does not favor anyone it is an ?across-the-board? tax cut.
The first thing he proposed was to get rid of tax codes, which means it will not favor the well-off income people. Replace it with pro-growth, pro-family tax cut, this would lower tax rates by 17%. So a family of 4 will
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