So does anyone have a plan to simply curtail or backstop the existing crazy code with a maximum taxation per person?
Or some “Alternative Maximum Tax” as opposed to the Alternative Minimum Tax.
To hell with Tax Simplification. I don’t care how you come to the number (indeed, other than Geithner’s example, TurboTax makes the most complex tax code relatively simple.)
I’m just worried about the size of the check I write at the end of the day on April 14.
As well you should. The problem is there are too many people out there who aren't.
At last count, something like 50% of Americans pay no income tax. Not only that, but a large number of those who pay no income tax actually get a "refund" in the form of the "Earned Income Tax Credit" or other freebies.
What I don't like about Cain's plan is that, by his own declaration, fully funds government AS IT IS.
That sucks.
To paraphrase that nutbag who ran for Governor of New York last year, the government is too damn big!
I don't want to fund the government at its current level. I want the size and scope of government to decrease.
Cain's tax plan MAY cause that to happen if EVERYBODY feels the pain. Which the sales tax certainly would.