Several years ago, Money magazine gave the finances of a hypothetical family to 46 of America’s top tax preparers. Their job was simple: Complete the family’s tax return. But the 46 tax experts came back with 46 wildly different estimates! Why? Because, according to Steve Forbes, Editor-in-Chief of Forbes Magazine, the U.S. income tax system is worse than complex—it’s incomprehensible and unworkable.
What would happen if there was just one tax rate for most Americans? Would that be fair? Could it even work? Mr. Forbes explains.
