Comment: Here is my proposed Tax Code Makeover: I propose a "dual rate" plan--income below $100,000 a year for an individual, or $200,000 a year for a couple, would be taxed at a 15% rate. Income above those levels would be taxed at 27%. Gross income would include not only interest but dividends as well. Retain write-offs for mortgage interest and charitable gifts only. I think it is only fair that dividends be included in the gross income. If middle and lower income folks have to include interest in their gross income, then it is only fair that others include their dividends in gross income. Let's face it: few middle and lower income folks have income from dividends. I would retain the mortgage interest deduction because home ownership makes for stable and responsible communities. The charitable deduction should remain as well since they seem to be the only ones who do anything for the poor and disadvantaged. Certainly our Gov't programs leave a lot to be desired in those areas. J. Lane Zercher Playa Del Rey, California |