Subject: Anticipating Great Reforms Comment: To the distinguished panel members: We're all anticipating Great Reforms from your work this year. Be Bold ! Recognizing the political battleground you're in with very well entrenched special interest groups seeking to maintain or expand their protected tax benefits, please SIMPLIFY the code for TAXPAYERS and for our country's long term fiscal strength. Eliminate the AMT; eliminate the Death Tax on estates <5 mil; eliminate capital gains tax on inheritances <5 mil, make permanant 15% tax rate on capital gains, and to encourage domestic savings allow US citizens to receive tax free interest on their investments in US Treasury Bonds up to $1,000,000. Thats Simple. Don't be afraid to sacrifice a few sacred cows.( especially the fat ones in the financial services lobby ) Please DO NOT create a Partial national consumption tax, VAT, or variation Unless you completely eliminate income taxes. Its all or nothing. Otherwise, we will have a more complex system, and both consumption and income taxes will grow in the future. This would be a recipe for disaster. |