Perry's Flat Tax 2

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Whether Perry's proposal is actually more regressive than the current would depend on what percentage of their total income the wealthier people actually pay now. It is certainly true that with their deductions what they pay now (as a percentage of total income) is less than their marginal rate. Probably, with Perry's plan, their taxes as a percentage of total income would go up for some (those who have a lot of other deductions) and down for others.

One note the Rich Family E in the post may have to pay a bit more (than indicated there) because Perry would disallow deductions for those with income over 500K.

As Tom noted (in his comment to the previous post on this topic) this is not progressive enough for some.
Presumably one could add an extra tax for those whose income is over some amount X.

Finally, I like the flat tax but I think it will have to be higher to obtain the income that the government now gets from the income tax.
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