Right now , just a couple of E-mails educating RushLimbaugh : Truly Flat Tax ============================ outer TUE.FEB,960213 outer ============================ Money should be Money should be Money . The sow`s mouth should be indiscriminantly omnivorous - the flows regulated at the dugs . A truely flat tax should apply the same rules to all TaxIdNums - whether individuals , corporations , or trusts , etc . It is absurd that in many cases , the cost of calculating taxes is greater than the tax itself . It is crucial that Each Individual , no matter what their source of income , feel the burden of taxation personally and equally . Forbes` ( and Kemp`s ) exemption of ALL investment is not only so patently repugnant that no-one espousing it can have any hope of national electability , but denys the fundamental concept of a Corportation as the legal abstraction of person . The fact that you have been taxed on your income does not exempt your hair dresser from being taxed on the money you pay them . Likewise interest you pay on loans you obtain (*) is taxed as income to your lender . Income received from a corporation has no greater claim for exemption . Money will be Money will be Money . (*) As a Manhattan dwelling renter , I directly feel the inequity of the exception for housing collateralized personal loan interest . However , the fluidity of money inevitably vitiates the effect of these loopholes . Ubiquitous TV ads for any-use homeowner credit shows the exemption is now used to make any debt of the homeowner-class deductable . ( The same situation exists for margin interest on brokerage accounts . ) An indication of just how futile it is to use tax inequities for socal goals is the current amusing commentary that elimination of the home interest loophole might make home ownership affordable to more people because the cost of a house would go down by the value of the interest perk -- the exact opposite of the original intention of the provision . | WED.FEB,960214,22:48 - BobA | To: 70277,2502 RushLimbaugh From: Bob Armstrong - CoSy - Subj: Money will be Money will be Money Off at 23:28 EST 14-Feb-96 - - - - - - - - - - - - - - - - - - - - - - - - - - TrueTaxRate ||| Tax + Deficit + PresentValue of Interest on Deficit ++++++++++++++++++++++++++ outer SUN.JUL,1994/7/10 outer +++++++++++++++++++++++++++ Friday , you expressed a wrong conclusion on the danger of the deficit . The problem is not that we are running a deficit of ~ .02 or .03 of our total yearly income , but that it has been so long since we have logged any surpluses , that the INTEREST on our accumulated debt consumes a third of our total tax receipts ( which are about a third of the nation`s total ) . Any family or corporation would be terribly weakened with such a debt load . It is the deficit as portion of government`s receipts that really indicates how far we would have to raise taxes or reduce spending so that we could start reducing our incredible interest costs . Given my numbers above ( I`m sure your research people can quickly get the 'real' ones ) the deficit is more like | .02 .03 % 1 % 3 |>| 0.06 to 0.09 of the total tax receipts . That is the proportional amount of additional debt we are still adding each year . That is how much more debt we will have to pay interest on -- forever - or - until we start paying it off with some surpluses . |( THU.FEB,960215,11:45 : Correct #s for `94 are much worse : Income , Outlay | $ x E9 | - -/ Q is 1258 , 1461 |>| 203 | B$ deficit or outlays as a proportion of income | % % / Q |>| 1.16 | That is , the deficit is 203 billion $ or as proportion of revenues and expenditures respectively | 203 % Q |>| 0.16 0.14 | It is an interesting coincidence that the 203E9 $ deficit is exactly the interest cost for the year on our 5E12 $ total debt . )| It is a mathematical inevitability that eventually , with continued deficits , no matter how small , the interest costs will grow to consume all revenues . That why any discussion of a ' Balanced Budget Ammendment ' is just a disgustingly stupid way for congress to put off actually doing it . It is Law of Economic Reality that either the budget will be balanced , or we will have to plead Bankruptcy . One way or the other , it will balance . -- BobA To: 70277,2502 RushLimbaugh Subj: The Budget will Balance - someday . Message sent to 70277,2502 Off at 00:08 EDT 11-Jul-94