Comment: To: President’s Advisory Panel on Taxation Fr: Ed Bragg To Whom It May Concern: I wish all of you the best of luck. I don’t, however see much hope for any substantial improvement in the mess we call the “tax code”. How many pages long – ten thousand? The reason for that bloated document is easily identified….it’s power. The legislature is loath to give up the ability to punish or reward the citizens of this country by use of the tax code. Can you blame them? The notion of a citizen legislature, heading off to Washington for a few years to serve the country, then returning home to live their lives, is a quant idea which was extinguished many years ago. Todays legislators want power and there is no greater power than the ability to take the fruit of a persons labor –and give that hard earned money to someone who did not work for it. How many times must our income be taxed? When we earn it –when we spend it – when we invest it –when an asset is sold –when our social security is augmented by savings income –and the final insult…when we die. Where is it to end? The people who want to take every penny that honest, hard working people earn, had best read or reread, Atlas Shrugged. At some point the engine that drives this country could stop. I cheered while reading Rand’s wonderful tale of a government gone crazy. Could it happen? I don’t know. Very soon now, the have nots will out number the haves. When that happens, all bets are off, for they can then vote themselves the keys to the treasury. We desperately need some form of a fair tax. Tax income one time Do not tax social security payments Exempt savings from any taxation Eliminate taxes on capital gains Death should not be a taxable event The federal budget has been out of control for decades. Combined with local and state taxes, the working people of America are just about tapped out. The time is now to do something about it. Sincerely, Ed Bragg |