Subject: Tax Reform Comment: The only way to FAIRLY reform the tax code is to replace the current system with an across the board "FLAT TAX". All entities (individuals, corporations, investors, etc.) would be subjected to the same tax regardless of the sourse of their income. Idealy there would be an initial amount of tax free "income", about $25,000. The tax rate would ten be approximately 12% on ALL income, profits, capital gains etc. over that base amount. As close as I can figure, this amount would be more than enough to fund all entitlement programs (and maybe expand some), any wars and natural disasters, and leave a surplus to pay down the national debt over about 10 years. It would be a fair tax with all parties paying their share based on how much they benefited by living in this great country. Corporate welfare would be a thing of the past, as well as deficit spending. The IRS could be reduced to a much smaller enforcement department and the FLAT TAX could be collected from individuals as they are paid without the need for them to have to file any kind of tax return. Corporations could pay their taxes quarterly based on their profits for each quarter, and capital gains and investment income could be paid annually or at the time the "income" is realized, whichever comes first. GOOD LUCK, nothing that makes sense to the working class in this country will ever be implimented. Only big corporations and wealth people benefit from the tax codes we now have, so why would anyone change the status quo? Thanks, Bruce |