Do away with the income tax, COMPLETELY. Go to a National Sales Tax, instead. (NOT a “Value-added” tax.)
If you spend more, YOU PAY MORE TAX. If you SAVE, you don’t pay tax. This is pretty simple.
I’m not an economist but I think the key to any tax plan is to stop the spending. No college grants, no money for studies of any kind (let private industry pony up the cash for that crap), no more foreign aid, no more money to the UN. Reduce the redundancy from the Fed Government (no EPA office in any other department except EPA, and so on). Try to eliminate certain departments within the government. Take those people who are on welfare and have them work cleaning streets, painting over graffiti, and so on. Do as much as possible to get private industry to start funding and paying others to do what the government attempts to do. Just my two cents.
I could live with that, too, provided they throw out all of the IRS Tax Code. The problem is that any country that has moved to a national sales tax (e.g., Canada), despite saying they would do away with income taxes, kept the income taxes and added the sales tax. All they got was a token reduction in income taxes that eventually crept back up to old levels. If it’s one or the other, fine. If not, then a Flat Tax.
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Do away with the income tax, COMPLETELY. Go to a National Sales Tax, instead. (NOT a “Value-added” tax.)
If you spend more, YOU PAY MORE TAX. If you SAVE, you don’t pay tax. This is pretty simple.
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That, minus the pre-bate (not a fan of myself), IS the Fair Tax.
Income tax = slavery by tiers...and those at the bottom, paying 0% or EITC (get ‘back’ $ they never paid in) make it worse. *NO* person should pay $0 (or less) for govt.
Fair (ALL pay), simple (line item on each receipt) and VOLUNTARY.