Subject: Effect of Reforms on Blacks Comment: In reading about the proposals for tax reforms, it seems as though the black person who is trying to rise is completely forgotten. We are the underbelly of the system and the current tax structure keeps us there. People rise economically in this system by being enterprising. Most white wealth come from a base when there was little or no taxation and less paperwork. They were free to build wealth with out the worry of someone looking over their shoulder excessively. The current proposals does nothing to help those blacks who open businesses and slave for five or more years to bring it up to speed earning no money whatsoever. The moment they earn a high income for the first year, the "progressive" tax structure taxes them with the rich. It takes no account for wealth building. The progessivity seems geared ONLY to those who decide to work for someone else or not work at all. Any reform to the tax code should address the fundamental idea of significant freedom to build wealth and the barries to entry, the progessivity and burdensome regulation the tax code now presents. Make real reform by reducing the number of sections in the US tax code itself; by reining in the number of regulations the agency can promulgate; and making the burden of compliance that eats up creativty a thing of the past. Only then you will be creating tax reform. If you tinker with the code and expand the number of its pages and not reduce it, you will have failed terribly. |