Posted: Oct 20, 2005 By: Troy Cooper

Subject: Updating Tax Codes

Comment: Get rid of all deductions. Have a simple stair step tax structure based on income and earnings. The majority of it would be collected through payroll or quarterly estimates.

There is no need for any mortgage deduction - people will choose to own a home if they can afford it. Eliminate any capital gain on the sale of a single primary residence.

Eliminate any charity deduction. People give because they care not for the tax deduction. The response to the hurricane needs was compassion not tax credit based.

Eliminate deductions of all other taxes. It just makes it confusing to deduct all the state income tax and then claim any refund as income the following year.

Eliminiate the inheritance tax. We have been taxed as we earned and accummulated our wealth. Or set it at 10 million and have it continue to index with inflation.

If you decide to tax benefits like health insurance, set the threshold so it adjust with inflation.

Use the tax code to promote marriage the base institution of our society. Do not include co-habitation or same-sex couples.

All this would minimize the need for a large IRS and cuts could also reduce federal spending.