Flat Tax vs income tax

With the federal election coming up in a few days, I have been studying up on the differences in the two candidates. Kamala Harris the Democratic candidate is a progressive tax politician that believes that higher taxes and taxing people to support federal government programs is needed to maintain the economy and all the programs the Democrats support such as welfare, pubic housing, food stamps, medicare, medicaid, social security and planned parenthood. On the flip side you have the 45th and current Republican candidate Donald Trump. Trump believes in a policy that is more fiscally sound, less taxes on working folks, reduced federal benefits for those on welfare and other programs. He is not completely against it, he just believes that able bodied people should be working to fund the majority of their family functions and life activities.

I write this to show no bias either way as I am a conservative person and believe in personal freedoms in the constitution. I write this as a way for me to get the information that I have researched and put it in writing to help me better understand it. Personally I like the idea of no federal or state income tax and just paying it as I buy goods and use taxable services locally and when I travel. This could eliminate the IRS and our misuse of trillions of dollars that the house and senate have at their disposal for use. It would tighten the belt per say and force them to spend more wisely and be more conservative in the budget approach.

Pro’s of Both-

Federal Income Tax- For the senate and house of reps it gives them unlimited amounts of money to spend on federal programs. It allows them to fund some whacky stuff that should not be paid for by taxes of working people. Honestly, the only things I see that are good from taxes are the services for veterans, services for older adults, retirement programs, and other benefits that are needed for basic human needs.

Flat Tax- It is not progressive and is flat. It is a base 10% or whatever amount that is charged on all consumable goods. It is an equal tax because people will pay only what they use. So if a millionaire spends millions on items, food, consumables, cars, trucks, houses, eating out, etc. Then they will truly pay their portion which would eliminate the call and need for higher taxes on them. A regular working person spends $300.00 at the grocery store then they would pay $30.00 flat tax. That sounds like a lot, but compared to paying upwards of 15-30% of federal taxes every week, bi-weekly or monthly on earnings.

The savings is obvious and I think a flat tax is better. As a working teacher, coach, writer, real estate investor and ecommerce store owner. I pay a significant amount of taxes each month and year. I would much rather flat tax the items I use daily and save the difference in cash and investments. The good old boys system of taxation we have now is not what was defined in the constitution or original documents of our founding fathers. It becomes a talking point every election and then we all go back to work and watch it become wasteful spending on foreign wars, government programs and other things.

As for the vote next week. I pray you seek guidance and vote for what is best for you and your family. I pray that you do not vote on one certain point and that the betterment of all people be top of mind. Either way, I will be at work unless the good Lord calls me home on 11/6/24 teaching, coaching, writing, investing and the other activity I do. I will pay whatever because I cannot fix it. My vote counts and I have voted and we will see where the country goes.

What do you think about the flat tax versus federal taxes? I would love some feedback on it.

Coach B