This act would repeal the current tax code by December 31, 2001. The goal of this legislation is to allow middle-class Americans to keep and control more of their money through tax reductions. While flat tax proposals continue to gain support from Congress and the public, no legislation has been adopted. Proponents of the current progressive income tax feel it is difficult to argue whether a flat tax would be fair or if it would contribute significantly to savings or growth. They point out that while tax levels may have reached an all time high, there is no other major industrialized country whose economy has performed as well as that of the United States over the past several years.
Proponents are also quick to point out that our budget deficit has almost disappeared.
Study both sides of the progressive tax verses flat tax issue and determine which system you feel would be more effective. Friday s discussion section will be conducted in a debate format. The class will be randomly divided on each side of the proposition. Be prepared to debate either side of the issue. Each side will have a chance to present its arguments and outline its ideas.