Comment: Flat tax
Is the best idea. For example if the rate were 20% for all and I had income
of $1,000,000 versus someone else's $100,000, I would pay $200,000 in cash
to the treasury VS their $20,000. Help me here, is this not progressive,
producing ten times more actual spendable dollars? Think in cash not
percentages, otherwise it is punitive not progressive. I never inherited a
dime and built businesses employing several hundred people. This is a bad
thing and should be punished by a regressive higher tax rate? The same
rationale applies to the AMT.
Consumption tax or VAT.
I am 70 years old and I already paid my taxes as I made my money. I would
like to enjoy the fruits of my hard work and spend my "after tax" dollars
with out paying a second time for the same thing. Eliminate the "death tax"
for the same reason . Any income I make now or in the future, of course,
would be taxed, but only once.
The mortgage interest deduction is as sacred as Social Security. Eliminate
it and millions of people could not afford to stay in their homes.