Ben Carson's speech provides model for US
There are certain speeches, videos and events that grab people’s attention. Dr. Ben Carson’s speech last week at the National Prayer Breakfast was one of those moments.
The world-famous neurosurgeon asked in his speech how anyone could understand our incredibly complex tax code, and then questioned why we need such a complex tax code and suggested why America should move to a simpler tax code like a flat tax.
The flat tax has been a long debated topic in America, but it is usually thrown out of the discussion due to its “unfairness” to the poor or because it would not raise enough revenue.
Now some say this would just widen the gap between the rich and the poor. However, tax cuts for the wealthiest Americans have actually been shown to jump-start the economy. This is because the richer Americans then have extra money to hire more employees, invest in the stock market and expand their businesses and would also help bring more Americans up to the middle class.
The flat tax would eliminate loopholes, simplify the system, weaken the IRS and make it much easier for Americans to file their tax returns. Kurt Hauser said it best in his quote from the Wall Street Journal: “Lower taxes increase the incentives to work, produce, save and invest, thereby encouraging capital formation and jobs. Taxpayers have less incentive to shelter and shift income.”
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