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H&R BLOCK STUDY: 'FLAT TAX' ALREADY HERE -- AT MIDDLE CLASS' EXPENSE

H&R BLOCK STUDY: 'FLAT TAX' ALREADY HERE -- AT MIDDLE CLASS' EXPENSE

'Flat Tax' Debate by Presidential Candidates Ignores Reality, Need for Middle-Income Tax Relief; New Study to Show Tax Rates on Rich,
 Middle Income America Flattened in Last 15 Years
 A de facto "flat tax" is already in place in America, the result of 15 years of changes that have dramatically flattened effective tax rates, with sharply lower taxes for the wealthy and considerably heavier tax burdens imposed on middle income Americans, according to a detailed study to be released by H&R Block, Inc., on April 8, one week before the April 15 filing deadline for federal income taxes.
 The study showing the impact on average Americans of 15 years of tax changes is available on an embargoed basis as of noon EDT on April 6 (All materials will be embargoed until 6 p.m. EDT April 7). Henry W. Bloch, chairman and chief executive officer, and Thomas M. Bloch, president and chief operating officer, H&R Block, Inc., will be available after 10 a.m. EDT April 7 to discuss the study and its relevance to current debates about the flat tax concept, general tax reform and, in particular, the need for middle-income tax relief.
 H&R Block is uniquely qualified to speak out on the needs and concerns of middle-income Americans who account for the vast majority of the firm's clients. In 1991, H&R Block's 7,000 offices in the United States served over 14 million taxpayers, nearly one out of seven (13.7 percent) individual filers. In February 1992, Thomas Bloch testified in support of middle-income tax relief before both the House Ways and Means Committee and the Senate Finance Committee.
 The 107-page study conducted by Dr. Larry Garrison and Wanda James of the Tax Policy Research Project at the University of Missouri-Kansas City, analyzes the impact of tax changes since 1977 through 32 typical examples in four filing statuses. Commissioned by H&R Block, the new study suggests that the effective "flat tax" that has emerged in recent years has shortchanged middle-income taxpayers, while providing generous breaks for the wealthy. Former California Gov. Jerry Brown has called for a single 13 percent tax rate ("flat tax") on personal income.
 NOTE: For embargoed materials and to make arrangement to speak with Henry or Thomas Bloch, call the contact below.
 CONTACT: Scott Stapf of The Hastings Group, 703-276-1116 or, after hours, 703-524-8417, for H&R Block.
 -0- 4/3/92


CO: H&R Block ST: District of Columbia IN: SU:

SB -- DC013 -- 4862 04/03/92 13:22 EST
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Publication:PR Newswire
Date:Apr 3, 1992
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