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"Suppose Congress had the resolve to lock out the lobbyists and get rid of the complexities and special interest deductions in the tax code. Suppose we simplified it all so there was a simple flat tax that could be filed with a postcard. If that saved half the $400 billion in compliance costs, enough funds would be freed up to the private sector to finance charitable programs two and half times greater than the $80 billion food stamp program."

Steve Forbes was so right it wasn't even funny....

And by brilliant CPA gnome tells me, if it happened they would convert their practice to helping small businesses manage and invest their money from a CPA's perspective, So all those tax folks won't have a problem finding employment, but the paperwork to comply is drowning us all, and it a game of musical chairs that is a bureaucratic time waster.

I said eons ago here on FR, we didn't need gay marriage we needed a flat tax so these couples could be treated more equitably ( not that a good CPA / EA couldn't use the existing code in their to help them, they could and did ), no one here got it, and yes I spent time in the tax biz, I am not pulling this out of my ear.

So let's say the "post card" is here, one deduction, one deduction only Vasili, HealthCare. All you spend on healthcare is tax free, and if you want to buy a policy for someone in need ( Hollyweird put you money were your mouth is and buy a bunch of policies if this became a reality ), that is deductible too.

All your "Non-Qualified" monies become essentially Roths, and only early withdrawal penalties apply, almost a mute point because interest, dividends and capital gains get taxed once at the source, like Steve Forbes noted eons ago.....