Comment: It's so exciting to know that government is finally addressing the most horrific fact of American life. . .our bizantine tax system. The only real solution is to abolish the personal income tax altogether, and go to a national sales tax. This frees people from the grips of alll the CPA's, tax lawyers, etc., who will now have to go forth and get a real job. It's extremely progressive, in that people tend to spend in proportion to their income. There would have to be some modest level tax that could be refunded so that poor people would not have to pay tax on the basic necessities such as food. Beyond that, everything could be taxed at say, 21-22%. This would free people from the disincentive to make more money due to the ever increasing tax bite. It would also stop the rampant cheating that goes on that makes those of us who are honest feel like chumps. . .make that very angry chumps. The tremendous "underground economy" that rewards those who hide from the tax man would disappear. Abolishing the IRS would save a huge amount of money, and the hidden tax that all of us have to pay the experts to prepare our taxes could actually be spent or invested in financial instruments that would boost the economy. Charitable giving would not be hurt, because there would be such a "wealth effect", that people would tend to be even more generous than before, since they will have disposable income available for giving, and of course donations wouldn't be subject to a sales tax. The time to fix this problem is now--people are READY for a change! Sincerely, Scott Hayward phone: (714)791-5501 |