Ah, when you said flat tax, I assumed you meant everyone paid the same amount.
So you think it's fair for a family of four making $30,000 to be taxed down to the poverty level while one making $1,000,000 has to scrape by on a mere $800,000? And you allow for the possibility that some people might get tax credits refunded to them, but not from tax money that came from other people. Where do you think that tax credit money is going to come from, taxing fish?
And if you think the economy of the Cayman Islands is in any respect analogous to the economy of the U.S., you have problems far beyond the ability of anyone here to deal with.
{AbE}
Oh, by the way, have you done any calculations to determine whether a 20% tax rate would general sufficient revenues? If so, I'd love to see them.
Edited by subbie, : As noted.
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