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Many economists and politicians have made the suggestion that a simplified "flat tax" system would have many significant advantages. Some European countries have successfully implemented such a systems. So for the U.S. what if individuals and households had to pay a flat federal tax of 10% on any income in excess of the Federal Poverty Level (FPL) for their type of household. For instance the current FPL for a household of two is $16,240. So if a household of two had a combined annual income of $33,000 their federal income tax would be [($33,000 - $16,240) = ($16,760 in taxable income X .10)] = $1,676 federal income taxes. Comment on what you think of such a system. What would be some of the advantages and disadvantages. RESPONSE: forum type response
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