Comment: My thoughts follow; The best solution would be something like a VAT tax, national sales tax, transaction tax or the like. These type of "solutions" would go a long ways in solving the INEQUITIES as to the citizenry of the United States. The purpose of my email is to explain WHY. Right now, regardless of the Code and all the variances, it is the W2 earner that gets killed, always. He has to report his income, plain and simple. My big frustration is the UNDERGROUND ECONOMY, all those citizens who ROUTINELY under-report their income. We see endless articles about the Code, with little mention of those millions of taxpayers who get away with murder. I used to be in the tax business, and our records showed that about 25% of taxpayers file a Schedule C, Profit or Loss From Business or Profession. You can name the list and it will go on forever. Where do we start - tradesmen, painters, gardeners, bar owners, hair salons,even doctors, psychologists - the list NEVER ends. What percentage of their "take in" do you think they report??? In virtually every case, very little. "One for me, one for the government", is the motto and that's 50%!! We're talking 25 million people who pay on ly a fraction of what they should pay. Meanwhile, the poor sap who's on a W2 reports EVERYTHING and then gets further screwed by phase-outs, limited exemptions, alternative minimum tax, ad nauseum. The CASH guy just laughs all the way to his bank or elsewhere. At least the aforementioned solutions would get everybody. It's the ONLY fair and equitable way. (I admit that the problem of bartering would be real - exchanging one service for another, no cash changing hands) Thanks for reading this. I hope I live long enough to see EQUITY and FAIRNESS take hold. ALL citizens MUST be under the same rules. Voluntary compliance is a JOKE and the threat of audits is minuscule. Any true audit would have to be a laborious "NET WORTH" audit tracing all incoming monies and going back to derivation Nearly impossible to implement. (By the way, Schedule C is NOT the only HIDING place - there's plenty that goes through Form 1065, partnership incone, 1120S, Sub S Corporations and even regular corporations. It is national TRAGEDY, rampant EVERYWHERE. Yet, it gets very little publicity, press or the like. |