He illustrated the point with a recent addition to his tax speech: maybe you set a flat ceiling on deductions, or maybe you go through the code and eliminate some altogether, but that's to be worked out with the Congress.
Mr Clegg said the study was needed to find out whether tenants could opt to take a smaller house or flat to avoid a deduction in their benefits.
Cynthia's career-enhancing move notwithstanding, her implant deduction fell flat with bluenose bureaucrats.
In Zetetic astronomy, the perception that Earth is flat leads to the deduction that it must actually be flat; the antimoon, NASA conspiracy and all the rest of it are just rationalizations for how that might work in practice.
The scheme is beguilingly simple: scrap the whole of the Internal Revenue Code, with its many brackets, deductions, and credits, and replace it with a seventeen-per-cent tax, after deductions... Flat tax critics say that it puts more burden on the middle class and won't provide enough money to ran the federal government....If [a rich man] fancies himself Presidential timber.
This can be done by reducing tax rates across the board and adopting a graduated flat tax with no deductions.
But at least his idea was that the alternative system would be something like a pure flat tax with no deductions whatsoever.
Under the flat tax's generous deductions for adults and children, a family of four that earns $36,000 a year would save almost $2,000 in federal income taxes.
Of course, Perry on Tuesday proposed a flat, 20percentt rate, with deductions that would exempt most low-income Americans, and several other caveats.
We could also turn the mortgage interest deduction into a flat 15 percent tax credit and cut the maximum deductible mortgage to $500,000, which would help many homeowners who do not itemize deductions, while curtailing subsidies for high-income people who don't need help.
The standard deduction is a flat amount set by law.
