Flat tax, no deductions.
Exactly. And I don’t care how many Freepers depend on that deduction - they can get off the government nipple.
Nothing will change until the majority of the Legislative Branch is thrown out. The tax code is the mother of crony capitalism, kickbacks, and economic meddling. Throw the bums out.
Gifts to charities should not be taxed with the following conditions: I would increase the charitable deductions incredibly but scrutinize the charities and people who claim the deductions themselves. Penalties for fraud regarding charity should be severe.
Government has a moral obligation to get out of the way and let people live.
Get the government out of charity and schooling
Repeal the 16th Amendment and go to the Fair Tax. That way, no need for the IRS looking at everyone’s income, and people are truly taxed on a voluntary basis.
Still social engineering because then banks get a preference on mortgage loans over car loans, business loans, credit cards, etc. They already get to deduct their expenses in getting the money from savings accounts and CDs.
My preference is for a flat tax with a low rate and no deductions to remove all social engineering from the tax code. If you make more you pay more. If you want to donate money to a charity, well good for you but that is no business of the government whether you want to do it or not and whether it is a government approved charity or not. If you want to rent rather than buy, it's not the government's business.
I would like a consumption tax replacing the income tax all together even more so that most workers and consumers would never have to deal with any tax reporting again, but I see transition problems with it because it punishes the ants who earned, paid taxes and saved who would have to pay again but rewards the grasshoppers who borrowed and spent first.
The flat tax is still a graduated income tax that penalizes success!
Tax every human living in the country the same amount each year.
Screw the poor!!
I’ve got no problem with ending the big three deductions: state and local taxes, mortgage interest and charitable contributions.
They make no sense to me and never did.
What about the use of mortgage interest on a rental property as a business expense? Without that there would be less incentive to provide rental housing, and without the leverage provided by financing only the already affluent could afford to own it.
We just re-fied at 3.75%, VA assumable. One of the future benefits is that in a higher interest rate environment we can offer a buyer a better interest rate, increasing the value and desirability of the property.
Time to get rid of everything in the tax code other than 9% income tax on every dollar earned. Then fire or retire 90% of the IRS and give the remaining supernumeraries work collating past records.
Replace the income tax with the FairTax and abolish the IRS!
The issue is FReedom! It is nobody’s business how much a person earns!
Under the FairTax, ALL Americans would be able to work as much as they want to, earn as much as they want to, save as much as they want to and invest as much as they want to.
The heavy hand of government in the form of rules, regulations, laws and bureaucrats will not be a factor, interfering in their private financial affairs and distorting the economy.
Think outside the box, FReepers! FairTax, when implemented, will bring the USA back to its rightful place in the World!
Please check out the FairTax at http://www.fairtax.org.