Guest post by Victor Cohen:
I like a simple flat tax….
Federal flat tax
0k to 20k 5%
20k to 50K 10%
50k to 100k 15%
100k to 200k 18%
Anything over 200k should pay 20%
No deductions allowed!
Also a VAT on all purchases of 8% for the states and cities to create income.
We would save hundreds of billions on advice and accountants this way….
We need to reduce the spending, that is the real issue!
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Victor Cohen is designer of evening bags, loves folding bikes (Brompton) and has a time tested, G.D given ability to assess financial risk quickly without complication (consults several hedge funds, mortgage and loan originators). Currently lives and works in NYC with his family, children and grandchildren and is working with various charities to create income to help the disadvantaged.
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This guest post was submitted in response to my query about how the best way to deal with the current economic situation. This post does not necessarily reflect my thoughts and feelings.
Your comments and reactions are, of course, appreciated. Just play nice. I have standards. And I don’t want to have to delete you.
