"Endless regulation to define a business and materials for producing a product. Legitimate business expenses are not now taxed so there is no change there. But defining these expenses requires pages of rules, regulations, and definitions. You've gained nothing."
Not really. Businesses make expenditures for two basic purposes
1. personal consumption, typically on behalf of employees, or
2. business purposes.
That distinction isn't hard to make at all. It doesn't require "pages of rules, regulations and definitions".
Judging from the number of pages in the two systems at present, you would gain about a 99% simplification. You may consider that "nothing", but I don't think most people would agree with that.
"Not really. Businesses make expenditures for two basic purposes
1. personal consumption, typically on behalf of employees, or
2. business purposes.
That distinction isn't hard to make at all. It doesn't require "pages of rules, regulations and definitions"."
Sorry, but that is the exact reason for most of the pages of tax rules, definitions, and regulations. You've gained nothing.
"Judging from the number of pages in the two systems at present, you would gain about a 99% simplification. You may consider that "nothing", but I don't think most people would agree with that."
Sorry again, but you're confusing HR25 with the rules, regulations, and definitions required by the bureaucracy to implement HR25. HR25 is by no means the only tax rule, regulation, or definition necessary to implement this system of taxation.