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Iowa to Lead the Country towards the Flat Tax
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1/8/2004 - WASHINGTON - A new taxpayer advocasy group has begun to take root in Iowa: Iowans for Discounted Taxes! (IDT!), a progressive tax reform which fights the current push for higher taxes in the Hawkeye State. IDT Hopes to reduce taxes to a single-rate flat tax, significantly lowering the Iowa tax burden and increasing economic activity and growth for the Midwestern state.
Magazine Publisher and former presidential candidate Steve Forbes has accepted the title of Honorary Chairman at IDT!, backing the group started by Des Moines stockbroker Kevin McLaughlin and creating a strong economist team. The goal of this tax reform is to allow Iowans to keep more of their earnings, improve the economy, draw more people into the state, and offer a concrete example of the flat tax, thus setting the stage for national tax simplification.
"The Iowans for Discounted Taxes! group should be applauded for their efforts to simplify the tax structure in their state, thereby making themselves a shining example of tax reform," said Grover Norquist, taxpayer advocate and President of Americans for Tax Reform (ATR). "Slaying the dragons of too much tax, IDT!''s plan begins to walk along the path to the Holy Grail of the flat tax for the entire country."
IDT! proposes that either citizens of the Hawkeye state be taxed at a rate of one percent of their earned income or they be taxed at the current rate, while keeping their deductions. Allowing both methods to be in place simultaneously allows Iowans to choose the plan best for the; the "discounting" method is based on the mass-merchandising model, according to McLaughlin, and he compares the ability to tax at a mere one percent to the ability of the Wal-Mart corporation to discount goods.
"iowa is on the right track to lead our country into a time of greater and continued prosperity," continued Norquist. "A flat rate at one percent like Mr. McLaughlin proposes is fair, simple, and limits state government spending as it is only adjusted as person prosperity rises. Finally, a sensible and responsible way to ensure taxpayers aren't bled dry for funding."
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FLAT TAX BENEFITS