taxes

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Some want a flat tax, which would be OK, if it was a progressive flat tax, but I've not heard anyone mention doing that. We could create a system where all personal income is reported to the IRS, regardless of it's source, then the IRS would issue tax percentage cards to people that they could swipe at the point of purchase, much like a credit card. So, anyone at poverty level would be exempt, then we could move from 1%-30% depending on level of incomes and maybe even institute a wealth tax on top of that. Of course details would have to be worked out as to brackets, etc. But this would be far simpler then the current, complicated tax codes.

I am a tax practitioner and nothing infuriated me as much as the tax codes when I was first learning them 17 years ago. I wanted to throw the book against a wall. Some laws are designed to work against anyone wanting to get ahead, which is just wrong. Your thoughts on something like this?

arky12's picture
arky12
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Aug. 7, 2011 8:15 am

Comments

It would definitely be simpler but it doesn't change who pays what. The powerful will always "legislate" what they pay and what we pay.

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Bush_Wacker
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Jun. 25, 2011 7:53 am

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