Subject: Simplifing the Tax Code Comment: It is my understanding that your panel is asking for ideas/advice concerning contemplated changes to the US Tax System. Here are my thoughts on the subject: We need a simple and inexpensive system to operate. Sales tax is already collected, therefore, raise the sales tax to a level which is revenue neutral and eliminate the IRS. The government, companies, individual all will all have more net revenue by eliminating the "No Value Added" cost of filling out tax forms. A sales taxes monitoring and collection agency should be all that's need. There will be no need for any deductions for social and environmental type engineering. Tax should not be charged on necessary basic food & drink items. All prepared food(i.e. Restaurants) should be taxed). State income taxes must be eliminated - they should use the same sales tax system, thereby eliminating state IRS equivalents. Sales taxes should be charged on all purchases, homes, boats, cars, raw materials, etc, both new and used. Sales tax should not be charged on labor. Yearly state, county, city property taxes should be eliminated - sales taxes should be distributed to the counties and cities based on the number of individuals, schools, students, and infrastructure requirements. Social Security - should be collected as percentage of total income on all individuals making over a specific income (TBD). Social Security pay-out date should be tied to the average life expectancy for Males & Females. Those individuals that don't pay into the system should get a lower monthly amount (TBD). Those individuals with net incomes or net worths that are larger than (X) times the the expected life expectancy pay-out should not receive Social Security. In Summary: I applaud your collective efforts to reform the current tax system. Assuming the end result includes simplicity and reduction in collecting and monitoring cost would embrace by the public. Sincerely Joseph Castaldo Palos Verdes Estates, CA 90274 |