Flat Fair

A lot of my comrades do not approve of my support for flat-rate income tax, saying that it would favour, say, private equity billionaires. No, it wouldn't.

My whole point is that they hardly pay tax at all, if at all. I support a threshold fixed permanently at median earnings for full-time work (currently around £23,000 per annum). Above that, all income, from whatever source, would be taxable at a flat rate, with no further exemptions or allowances whatever.

Meanwhile, a unified minumum age, pensions, benefits and student funding system would give everyone an income not lower than half the threshold, called, simply and accurately, Social Security. And it would all cost next to nothing to administer.

What could possibly be the problem for anyone except those so rich that they are currently exempt from tax altogether?