Private CEOs Prefer Flat Tax

July 13, 2005
Although Congress is unlikely this year or next to approve basic tax reform that would benefit U.S. manufacturers, for CEOs of fast-growing, privately held U.S. companies a flat tax is the preferred form of both business and personal tax reform, ...

Although Congress is unlikely this year or next to approve basic tax reform that would benefit U.S. manufacturers, for CEOs of fast-growing, privately held U.S. companies a flat tax is the preferred form of both business and personal tax reform, indicates a PricewaterhouseCoopers study released this week.

Assuming tax bills would remain about the same, 48% of the 341 owners of fast-growing, privately held U.S. companies surveyed favor a flat tax that would simplify the federal business tax structure. Some 16% would keep the current tax system. Thirteen percent prefer switching to a value-added tax.

On the personal side of taxation, 58% of the CEOs prefer a flat tax that would result in lower tax rates while eliminating tax breaks. Sixteen percent prefer a value-added tax. And another 16% would leave the individual tax system as it is.

The companies surveyed range from about $5 million to $150 million in revenue or sales.

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