The federal income tax system is the most convoluted thing on the face of the earth. I don't believe that there is a single person that fully understands it. Most people can't figure their own taxes, and the wealthiest americans can afford to pay someone to make sure that they pay as little in taxes as possible. The wealthiest americans pay less than the poorest! It's insane! The IRS is this massive money sucking government entity.
Here's what I propose: First, abolish the current tax code in it's entirety. If the average citizen can't figure it out, then it's too complex and complicated. Making changes doesn't solve the problem it only makes it worse. The only way to have complete tax reform is the start with a clean slate.
Second, institute a flat tax of like 10% for all individuals and businesses. Everyone would be able to figure out their own taxes. What a novel idea! Set up a simple payroll deduction and April 15th would just be another day of the year! The best part of this is that low income famlies would get a tax beak and the wealthy would finally pay their fair share!
With a flat tax when the whole econemy grows so does the federal revenue. I realize that there would be many tax attorneys and tax accountants that would be out of a job, but if they can't find another way to make money then maybe it's time to retrain for a new career.
I'm not opposed to paying my fair share, I just wan't everyone else to do the same.
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1 comment:
I thought about this and for the federal employees I think the government would have to provide retraining in another field.
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