Sitting in the doctor’s office today, I saw a syndicated piece that ostensibly presented commentary taking two sides of an issue, in this case “Would the US benefit from a flat tax?” The two arguments, briefly summarized, went as follows:
1) Yes. The flat tax would lead to massive economic growth. It would also lead to reduced tax revenue, but that isn’t important because we “have a spending problem, not a revenue problem” and spending cuts will be needed anyway.
2) No. The flat tax would lead to massive economic growth, but it would also lead to reduced tax revenue. Since “federal spending is out of control” we must first make massive spending cuts, then institute a flat tax.