Comment: ----- Original Message ----- From: David Elmore To: comments@taxreformpanel.gov Sent: Friday, March 11, 2005 11:08 AM Subject: Tax Reform Submitter: Carl David Elmore Date: March 11, 2005 Contact: P.O. Box 9011 Houma, Louisiana 70361 elmore@internet8.net (985) 876-0689 Catagory of Submitter: Individual Submitter: Carl David Elmore Complexity of tax code: I am a college graduate with a minor degree in accounting yet, I cannot decipher my tax return supplied by my public accountant. I file a long form with attached schedules for small business, real estate and investment income and this costs me $30,000 per year in tax preparation fees to file a return on $150,000 to $200,000 annual taxable income. As a small business owner, I file quarterly estimated payments which means that not only on April 15, but every quarter, I must scramble to accumulate cash to send to IRS. This is usually a very traumatic occasion. I use a computer accounting program that tells me everything that I need to know to properly run my business, therefore the $30,000 that I spend on tax preparation is of absolutely no value to me as an individual or business owner. I favor the national sales tax where each time that I make a purchase, I pay my part to run our government. I can then eliminate the public accounting fee and forego the trauma of quarterly tax filing. The IRS can be reduced to manageable size and can then spend their time more productively on such matters as auditing the Enrons of the world. Imagine the cost savings of a reduced IRS. With a national sales tax, THE UNDERGROUND ECONOMY WOULD THEN PAY ITS FAIR SHARE OF RUNNING OUR GOVERNMENT. The present income tax system should not be reformed. It is too convoluted for reform....it should be scrapped and substituted with a national sales tax. |