More bias from US News, another lame-stream media outlet that won't give you the facts.
The US News headline to this item: "How a Flat Tax Would (Ahem) Kill Jobs." Note: the vast majority of people who just skim headlines will be saying 'flat tax kills jobs' at the water cooler tomorrow.
What does the article say? It says that some tax preparation assistants, tax lawyers and tax accountants will lose their jobs under a flat tax. The article doesn't mention that these jobs are the wasted inventions of a bureaucratic nightmare, the 11,000 page tax code. It does say "... the cost of "tax compliance" [is] nearly $400 billion this year, nearly as much as President Obama wants to spend on his latest jobs plan. So simplifying the tax code, theoretically, would cut back on compliance costs and put more money into the pockets of ordinary taxpayers."
Theoretically? Theoretically cut back on compliance costs?
Yes, that's what it says. But its just a theory you know.
Who among us looks forward to paying that tax preparation bill? What value is it adding to the economy?
These are the same preparers that cannot agree on anything "same data, different tax" an important reason to consider a flat tax. However, Rick Newman doesn't want you to know that, and instead says those tax preparers "are well-trained professionals ... supposedly the kinds of high-paying, white-collar jobs we want to keep in America, not the kind we want to eliminate." [Emphasis mine.] Folks, this is partly why its so difficult to get rid of wasteful bureaucracy, including bureaucratic overhead. Liberals consider these changes 'job killers' never mind they are useless regulatory compliance jobs.
Since when are useless regulatory compliance jobs we want to keep in America? US News says so, Rick Newman says so. The same Rick Newman that has a rap sheet at NewsBusters. He continues "enactment of a flat tax could plausibly be labeled as a 'job-killing' plan..."
Time out! Rick, you can't label something 'job killing' without examining both sides of the equation.
Eliminating the costs associated with the government regulation and the laborious tax code frees up enormous capital to be put to a more useful purpose, enriching the economy, instead of being a drag on it. As Carl Says: "Indeed, government spending plus the costs of regulatory compliance total 35.5 percent of our economy."
I'd quote more idiocy from the article, but it gives me abdominal pains to read his drivel, I could do a whole book correcting his logic and facts. I don't have time for that.
By the way, Rick Newman doesn't want you to know that a flat tax would also kill a lot of jobs at the IRS too.