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. ---------------------------------------------------------------------------- --------------------- Sonny Lathrop 310.473.5991 Phone 310.478.5260 Fax 323.240.9244 Cell sl@thermostatic.com |