Subject: tax reform Comment: To Tax Reform Panel, Under the assumption that all Americans are Created Equal, the only logical tax system would be to tax everyone equally. Multiple tax rates are a form of discrimination! Every person or entity who generates an income should pay the same rate on a percentage basis. No exceptions. My plan is fair and equal with a flat rate for everyone, a rate of 16% to 24% should be adequate. Under my plan there are no deductions for anyone, every citizen is required to pay “The rate” on their total income, no games, no tricks, no excuses! Whatever someone chooses to spend their remaining income on is their business. Whether it is household bills, autos, boats, charities, mutual funds, education, second homes, food, vacations, etc. it’s their option. The government can fine tune “The rate” on a quarterly, semi or annual basis according to current economic conditions. For example, a National emergency, a war, promote a new technology, help another country in dire need, an economic surplus or other situations can trigger the Fed to ratchet up or ratchet down “The rate”. Individuals, married couples filing jointly, corporations, or any entity that generates an income should pay equally the rate. The I.R.S. would not be eliminated, it would be used to check the income claims by individuals and corporations. All income would be included as taxable income: Workers W-2 Forms Self employed income 1099 income Stock Options Capital gains, long and short Gifts, Inheritance etc. Whatever income is claimed should be taxed at the rate. I have a deduction for home ownership with high property taxes, which helps at tax time, but, I feel those who rent their dwellings are discriminated against for not owning their homes and do not have the same deduction but live and work equally. I believe there would be less tax cheating if everyone knew everyone was treated equally, not “What’s your game to beat the system.” I think a national sales tax would encourage the underground economy to drastically increase its activity. Other countries have instituted a flat tax with success. Its about time America did the same. A small percentage of “The rate” could be devoted to specialty issues for long term stability. For example: Social Security Medicare Federal Deficit Job Creation etc. Sincerely, Robert Donato Bavanti@optonline.net |