Most flat tax proposals come with a *large* exemption; I think the one Steve Forbes proposed was $14K for individuals and either $7K or $10K per child.

One thing to bear in mind is this; people with higher incomes (particularly small business owners) have a tremendous amount of discretion as to how, when and what form to take income. As a simplified example, if I were running my own law firm, say, and I know that my marginal tax rate is 50%, and I collect a $60K fee, I am going to think long and hard before I take that as income, and write a check to my spendthrift Uncle Sam for $30K. I might rather decide to utilize it to by myself a BMW as a company car, and pay $0 in tax. OTOH at 20%, or so, I might get buy with a $30K car, take the other $30K in cash, and pay $6K in tax. Rates go down, but revenue goes up.

Bottom Line: Every time the Class Warriors try to precision bomb the "rich", the "rich" (which to the Class Warriors, is Anyone With A Job), find a way to fight back.

As an aside, Screener, I don't know how old you are, but you should max out your 403(b) (or whatever you guv'ment types have) and IRA contributions, b/c SocSec, unless it is reformed in a major way, is simply untenable.

I have been on the good end and the bad end of the spectrum, income-wise, at various times in my life, but I *do* think that everyone should pay *something*, because that would act as a brake on the profligate spending of the Congress (no matter which party is running it at a given moment). The Congress is incented to spend; no one votes for them based on cutting the deficit. Accordingly, the people should be incented to elect Congressmen who would be more inclined to practice fiscal responsibility.

Best,

O/H