We all know California is in deep economic trouble. Its GDP surpasses even some nations, but lately the state is on a downward spiral of economic decline. It’s in so much trouble that the Governator Arnold Schwarzeneggar (R), considered by some to be a RINO, is proposing a flat tax.
It’s a good idea: simple to report, easy to audit, and guarantees a steady tax revenue for the state.
But opponents say it’s unfair as it taxes the wealthy at the same rate as the poor. These opponents probably don’t publicize the fact that most poor households don’t pay taxes.
No matter. If it’s fairness they seek, then Gov. Schwarzeneggar ought to study the FairTax! How great would it be for a state like California to radically adopt a new tax code similar to the FairTax?
