15% Corp Tax rate = to the 15% Cap Gain and Div. Tax would make it so simple to comprehend.
Flat Tax IMHO is the answer.
"K" Street is the enemy and their vehicle is the Tax Code and Contributions. Cut them off at the knees politically via a Flat Tax. Steve Forbes was so right on this and nobody wanted to listen.
It is critical to get "K" Street out of the way as massive Downsizing/Rightsizing of Govt must also occur as a parallel process to this new tax system.
Things like NPR, Amtrak, National Endowment for the Arts have to go, All Dept's 30% (at a minimum) cutbacks and they must find a way to make it work. Dept's will need to be closed i.e. Education, Energy. Then onto the big nuts Medicare, Medicaid and SSI.
All these cannot be tackled with the farmers of K Street still fat-ting the pigs...
The IRS itself has literally become a ravenous monster that:
1) Costs Americans nearly US$500 BILLION per year in compliance costs.
2) Favors too much debt financing (we know how well that went!).
3) Sends US$15 TRILLION out of the US financial system for income tax avoidance purposes. Care to explain why the underground economy has exploded lately and all those "banks" on various Caribbean nations?
4) Forces American companies to outsources jobs by the many millions for tax avoidance reasons.
5) Tramples on the rights of citizens on an unimaginable scale
This is flat-out lunacy. We need to either get Forbes' flat tax or the even more radical FairTax to replace the current income tax system to stop the problems I mentioned and foster REAL economic recovery and future growth.