I am seeking feedback, to weigh up the pro's and con's for further debate,on a single tax regime on gross income of individuals,partnerships,companies,and capital sales to replace all existing tax regimes of Federal,State and Local governments.Any comments on how this system would affect yourself and/or our society,for better or worse,would be greatly appreciated

A set tax rate, and this is what I assume you are proposing has dier consequences for lower income earners as it is they who require the largest portion of their income just to provide the basics of life.

This is why they are so hard hit by the GST.

One of the main problems that you face is the simpler you make the system, the more unfair it is. The complexity we have now is a result of years of adjustments to reduce the tax burden where it is deemed to be unfair, and to clamp down on those creative enough to exploit loopholes. I suggest it would be very difficult to have a system that is both simple and fair.

I agree,rehctub.Would a healthy threshhold before the tax came into play rid the problem?Maybe a threshhold just above the minimum wage but only for those on or below that,others to pay on all of gross income and capital sales.The tax proposed is a single tax of low single digit% and would need to raise equivalant revenue as is now raised for govt.It could be gathered automatically on each deposit into accounts in financial institutions,unless under the threshhold.It would not require any other tax to be needed.There are plenty of pro's and con's that I can think of but won't list or discuss them all at once here,rather hope people respond with their own ideas or slant on it,and then discuss those.

Hello,Country Gal,
The tax system's complexity is one main reason for this discussion on this proposal.The more complex,the more loopholes until it becomes incomprehensible to the vast majority,as it is,and therefore a very bad system by definition of a good system;simple and fair.This system would still allow the govt.to control the spending of taxes raised to alleviate difficulties,and deliver services,yet stimulate people to participate and achieve by not being burdensome and allowing them to know exactly where they stand at any time without trying to anticipate tax changes.

As a suggestion tax withdrawals from bank accounts and credit cards the idea being that it might encourage savings and, of course, save considerable costs in administering the tax laws. However I am not sure how to handle loan repayments.