[Jack Hydrazine]

http://market-ticker.org/akcs-www?post=230493

Note: No deductions, no exceptions, period.

Your tax return would fit on a postcard. There would be little to audit (only “how much did you make?”) and thus 90+% of compliance costs would disappear.

Now why isn’t the media focusing on that?

Incidentally, I have not run the numbers to determine if this is revenue neutral..... but shouldn’t that be analyzed and shouldn’t the media take a good, solid look at it?

Why don’t they? Because I bet virtually everyone would like it, that’s why.

[VRWCmember]

Trump also wrote, “Imagine your paycheck was 40 percent higher than it currently is. What could you do with 40 percent more wealth? How many jobs and opportunities for others could you create?”

That is NOT 40% more wealth; only 40% more income.

[Buckeye McFrog]

It is necessary as it will disempower corrupt bureaucrats like Lois Lerner.

[Eric Pode of Croydon]

The biggest opposition is likely to come from the real estate and construction lobbies, who have successfully convinced a lot of Americans that it’s in their best interest to borrow beyond their means to purchase houses because the interest is tax deductible.

[Mr Rogers]

It would be extremely unpopular with those making under 30K, and many making under 50K. Why? Because the Earned Income Tax Credit puts up to $6000 of money into the pockets of those who haven’t paid taxes to begin with.

A married couple with 3 kids can get some amount from the EITC while making over 40K.

It would also eliminate the child care credit that reimburses thousands of dollars in child care for lower income people. And the education credits. And so on...

[expat2]

It can’t be revenue neutral.

[DoodleDawg]

Incidentally, I have not run the numbers to determine if this is revenue neutral..... but shouldn’t that be analyzed and shouldn’t the media take a good, solid look at it?

So you do away with business taxes, capital gains taxes, and inheritance taxes, then you slash income taxes to these levels and you honestly think there is a chance that it'd be revenue neutral? My expectation is that it would cut federal tax revenue considerably. So what is Trump going to do about cutting spending enough to balance the budget?

[i_robot73]

Modified ‘Fair Tax’ (*NO* exemptions) - it’s the ONLY Constitutional method. I could care less if it’s ‘revenue neutral’ or not; Fedzilla gets and WASTES more than it knows what to do with, even if they are within the bonds of the Constitution. Bring back Freedom, Liberty and, most of all, CHOICE!

Just because you don’t make $X+, or are no longer in the work force, does NOT mean you don’t utilize govt services (prob. the reverse). Let’s go back to re-use, trade/barter. The LESS govt in our lives, the BETTER.

Anyone with a better idea that doesn’t break the 4th, 5th and 13th (like the current income tax or the vaunted ‘Flat Tax’), I’m all ears.