Posted: Apr 24, 2005 By: Sonny Lathrop

Comment: Please consider the following:



A. Income tax should generated by a simplified percentage of all
ordinary income. The actual percentage should be linked to an indexed
calculation based on the national budget. The indexed calculation should be
updated and published on a semi-annual basis. The calculation should not be
discriminatory and should be levied equally to every level of income earner,
similar to a sales tax.
B. Eliminate all forms of deduction including standard deductions,
contributions, and mortgage interest deductions. (Do away with complexities
and uneven tax burden sharing)
C. Ordinary income should not include interest or investment dividend
income. (Stimulate savings and investments)
D. The W-2 form that is sent out by employers, would simply be an
annual statement listing all transactions of payroll.



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Sonny Lathrop

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