Subject: Income tax reform Comment: Our current income tax system has outgrown its usefulness. Each year, like a right of passage, we fill out forms, rush to meet the April 15th deadline, never knowing for sure if we've done them right, never knowning if there are deductions I could have taken had I but known. I am reasonably intelligent but I must confess: without TurboTax, I would be at a loss to work my way through all the accounting mumble jumble. It is long past time for a change. The best alternative I've read about is a flat consumption tax with consideration given to those at lower income levels. The rule is simple: you buy, you pay. No deductions, no forms, no April 15th. It is the ultimate pay-as-you-go system where everyone is treated equally without regard to one's ability to buy political favors. People and companies will learn to spend on what's right for them or their business rather than making decisions about the possible tax consequences of doing this or doing that. This will ruffle the feathers of many who have made a living on eeking out special favors from our political establishment. If we have the strength to do this conversion, I must also DEMAND that our political leader learn fiscal restraint. Our current budget overruns and the attendant Social Security crisis stems from a lack of fiscal responsibility by those entrusted to run our government. It is LONG PAST TIME that said individuals start running the government in a financially sound manner. |