That assumes those are the only choices.
The income tax is salvageable, but it needs to be greatly simplified. 25 years ago there were 2 tax brackets— lower and upper. Now there are 6, plus more deductions, credits and various doohickeys than anyone can make sense out of, so much to the point that the accounting and software industries get a boom every April 15.
We don’t need to throw the baby out with the bathwater to fix the tax code.
“That assumes those are the only choices.
The income tax is salvageable, but it needs to be greatly simplified. 25 years ago there were 2 tax brackets— lower and upper. Now there are 6, plus more deductions, credits and various doohickeys than anyone can make sense out of, so much to the point that the accounting and software industries get a boom every April 15.
We don’t need to throw the baby out with the bathwater to fix the tax code.”
The income tax as it exists now is fundamentally flawed - it requires every American to become an accountant, and expose almost every detail of his or her personal finances. It is just wrong.
How do you think Daniel Boone or Davey Crockett would have felt about the Income Tax and the IRS? How about Ben Franklin?
It needs to change in a drastic way - a consumption tax works for me.
Rubbish.
25 years ago in 1982 there were 12 brackets from 12% to 50%.
Reagan's 1981 cuts (becoming fully effective over the 3 year period from '82 to '84) didn't simplify anything, they cut marginal rates by 25%, all based on the regime previously existing under Mr. Peanut except that all brackets over 50% were eliminated, which meant that the number of brackets dropped from 14 to 12.
Simplification had to wait until 1986, when the number of brackets was reduced from 12 to 3.
In the entire history of federal taxation, there has never been any such thing as "lower and upper" brackets. Even the first income tax law had many brackets.
In any case, the NRST "fair-tax" baloney is a pipe-dream which will never be enacted into law. I favor a flat-tax. Which will also probably never be enacted into law.
The ultimate irony is that the Russians and a bunch of ex-Soviet satellite states have flat income taxes, yet we don't and have no prospect of getting there any time soon.
Even Neal Boortz used to admit this...before he had a booke to peddle. Did you know he has a book? You can buy it. If you don't believe anything he says, you can just buy his book for proof. Why not buy his book, unless you're anti-american? Anyone who doesn't buy his book is obviously against Fairness.
It is salvageable, and it should be simplified. Not 2 brackets, one. A straight, flat tax on every dollar earned. No deductions, no credits, no "earned income credit" (welfare), none of the complex rules, exceptions, and bulk.
A flat tax of 15% maximum, coded into the constitution to apply to all people regardless of race, color, creed, religion, or socioeconomic status. No higher, and no different for different types of income or different amounts of income. It's about time that the democRAT base deadbeats start paying their fair share like the rest of us.