The American tax system is a bureaucratic nightmare, its tangled web of taxes, loopholes, and millions of words resulting in absurd compliance costs. There is an easy, effective solution: a flat tax.
Steve Forbes, editor-in-chief of Forbes, notes in Prager University’s latest video that 46 different tax experts analyzed a hypothetical family’s tax liability, and each one came up with a different result, highlighting the complexity of the tax system’s 10 million words (and counting), seven tax brackets, and over $600 billion in economic costs. Forbes contends that the flat tax is the remedy to this burdensome tax system.
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