re: Towards a Fair Tax System in the USA
a) I doubt your numbers work
b) like it better than a flat tax
c) why do you even need 5 and 6? standard deduction? just raise the ceiling. Other deductions - ditch em. That's when you start into a whole world of hurt like the one we have now.
d) forbidden to retain earnings???? good luck gettnig that to fly past anyone. Tax profit. Exclude dividend payouts and reinvestment.
e) the deficit would not be erased overnight. You would have to play with your numbers.
And you still need to cut spending.
And pay welfare to out of work accountants and tax advisors.