Comment: I hope The President's Advisory Panel on Federal Tax Reform has three goals for the U.S. income tax system: 1. Simplify 2. Simplify 3. Simplify I would recommend a flat tax rate (i.e. 22%) with the following stipulations: No income tax below a poverty line (i.e. $30,000) Keep deduction in place for charitable contributions Keep $250m/$500m capital gain elimination for sale of primary residence Eliminate AMT Eliminate double-taxation of dividends Todd Coordt Baycap, Inc. 423 S. PCH, Suite 201 Redondo Beach, CA 90277 Phone (310) 316-9202 Fax (310) 944-9947 toddcoordt@baycapinc.net www.baycapinc.net |