July 20, 2015 –- Professor Steven Bank was cited in a Forbes article regarding flat rate income taxes, following presidential candidate Rand Paul’s unveiling of his “Fair and Flat Tax” plan.
“Graduated rates were not seen as essential to achieve the goals of an income tax,” explains UCLA Law’s Professor Bank.
“The progressive rates were a response to the perception that the tariff was burdening the poor, in the form of higher prices, with more than their share of taxes. The thinking was that when levied with the tariff, the income tax would produce a relatively flat overall tax burden.”
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