re: The Flat Tax

A lot must be wrong with it, because the current tax code is extremely punitive for anyone who starts to make over $150K. If you take S Corp distributions conservatively, let's say based on the last year, and keep current distributions in the S Corp for cash flow, what good are retained earnings at that point. Try to write yourself a check for that.

There is the practical, and there is the theoretical. The current system ins't set up for moderately successful persons, persons who employ the largest percentage of the remainder of taxpayers, it is set up for extreme wealth, and on the other end, set to to perpetuate votes from the "poor." It is set up to perpetuate government, and less obviously a couple of tax related industries. No way ever should my tax return by 70 pages long for what I take home.