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Forbes' main selling point is his support for a simplified tax code--a flat rate of only 17 percent. While some of his competitors, such as Senator Phil Gramm and television commentator Patrick Buchanan also emphasize their support for a flat tax, Forbes seems to be the candidate most associated with tax reform. Forbes actually speaks of little else than the alleged merits of a flat tax. His message is little more than crude economic determinism--he professes that his flat tax will not only boost America's economic stature, but will also encourage a renewal of America's culture...
...rate of 17 percent on all income earned above $36,000. At the same time, his proposal would eliminate most deductions, like the home mortgage and charitable deduction, and exempt from all taxation unearned income derived from savings and investment. These changes, Forbes claims, would greatly simplify the tax code and spur economic growth through supply-side forces. This growth, moreover, would ensure that the federal budget deficit would not increase since the additional revenue derived from a larger economy would more than compensate for the loss in revenue that would result from a flat tax of only 17 percent...
Although Forbes has previously acknowledged that replacing the current tax code with a 17 percent flat tax could diminish receipts by $40 billion, he maintained that the proposal would actually increase revenue because lower rates would encourage Americans to work harder and save more money...
...only way to repair America...[is] by eliminating the source of corruption and political power: the tax code," he said...
...Apple's System 7.5. The last major overhaul of the Macintosh operating system--System 7.0, which laid the groundwork for the current version--was late when it was delivered more than five years ago and even then just barely met expectations. The next major overhaul of the Macintosh system, code-named Copland, is due later this year. But many industry experts aren't sure if Apple will be able to deliver the revision on time or even if it will make a big difference when it does...