Coupled with a serious reduction in wasteful and unnecessary spending, a flat tax could revive the economy for decades to come.įorbes proposed a 17 percent flat tax with generous exemptions of $13,000 for each adult and $5,000 for each child. When magazine publisher and Republican Steve Forbes ran for president in 1996, the flat tax was at the heart of his campaign.įorbes lost the nomination to Bob Dole, who lost the election to Bill Clinton. The next time Republicans control all three branches of government they may wish to visit an old idea – the flat tax.
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