Lib Econ

Somewhere in my stack of stuff I have the THIS WEEK transcript where George Will tries to explain to Sam Donaldson why a flat tax is equitable.  It went something like ... Donaldson: So, you think it's fair that the working man pay the same tax that the super rich pay? George Will: Not the same tax Sam, the same tax rate. Donaldson: I know, and that's just wrong  - that an oil millionaire would pay the same tax as a guy selling shoes. George Will: No, the millionaire will pay 19% of 20 million dollars, which is 3.8 million.  Your shoe clerk will pay that rate on $20,000.or $3,800. Donaldson: Wait a minute ... if they're both paying the same amount, how can you call that equitable? George Will: Takes out gun and shoots himself. I'm reminded of it by Tim Russert's performance Sunday, so nicely captured by Expose the Left.