Obama has no serious budget proposals: 55% more in spending

[_Droopy]

But here is a question for you:

- What do you think is the optimal income tax rate? (Let's stick with income tax, since we know that other options like a consumption tax are not going to happen.) Conservatives are always supporting tax cuts, no matter the current rates. How low is too low, or is there such a thing? What rates would be acceptable?

The simplest answer I could give, without being an expert of the nuts and bolts of the manner in which tax cuts affect different sectors of a massive, vastly complex economy (much of which is already deeply invested in economic activities focused on negotiating and/or profiting from the present system), is one that maximizes productive economic activity in the private sector while, at the same time, adequately funding the constitutionally legitimate functions of government.

I think the Forbes 17% flat tax, that only kicks in after $36,000 per year, is a good start, but I may be able to go even a bit lower than that.

My idea is to maximize revenue for the legitimate functions of the state under a constitutional republic, while at the same time maximizing economic growth and the pursuit of happiness within the framework of the concept of unalienable individual rights and a strictly limited government footprint in individual economic and cultural life.

[_krose]

... adequately funding the constitutionally legitimate functions of government.

What do you say those are, in a nutshell? I assume it wouldn't include any of the social safety net?

I think the Forbes 17% flat tax, that only kicks in after $36,000 per year, is a good start...

With no deductions at all, right?

I honestly think I wouldn't have any problem with that, as long as everyone actually paid all of that, and it covered ALL income equally (treating labor income and investment income the same). That may well yield more revenue than current rates.

[_Droopy]

With no deductions at all, right?

I honestly think I wouldn't have any problem with that, as long as everyone actually paid all of that, and it covered ALL income equally (treating labor income and investment income the same). That may well yield more revenue than current rates.

http://lobby.la.psu.edu/080_Internet_Sa ... Forbes.htm

The flat tax contains a large personal exemption, but no other deductions (loopholes).

The following is excellent, all the way around (although this author only exempts income up to $25,000, not $36,000, as the original Forbes plan does).

http://www.forbes.com/sites/billfrezza/ ... ton/print/