October 29, 2015 –Professor Steven Bank was featured in a Marketplace discussion of a flat tax and how it has long been debated in the United States, including during a recent Republican presidential primary debate.
“There are two instances where we actually enacted a flat income tax," said Professor Bank. "One was in 1862 during the Civil War, and the other was in 1894. Neither lasted long.”
“The progressive Republican from Idaho, William Borah, says not only should we have graduated rates, but steeply graduated rates. We need to redistribute income. Henry Cabot Lodge, a Republican from Massachusetts, argued that we should not have graduated rates — it’s confiscation from the rich, it’s an abomination.”
LISTEN TO THE INTERVIEW.