Posted: May 03, 2005 By: Wayne E. Frye

Subject: revamping the tax code

Comment: Hi,

I sent a note out to some of my friends and this is the input that I got back. Here is some of their ideas.

There should be only a sales tax....might make it progressive as the purchase price rises.

I would be in favor of a flat consumption tax. No spending millions or billions for forms, books, lawyers, many laws, a huge IRS staff, etc. I hadn't thought about deductions but I think they should be minimal at best. Perhaps none. Hey you get no deductions on sales tax!!!

I like the tax code as it is with refinements. Areas that need to be revisited are: Income limits on many things-ROTH Ira's, loss of itemized deductions are examples. Tax rules for MFS vs MFJ are discriminatory. Social security taxation rule should be simplified. AMT should be repealed.

I'm in favor of a national sales tax that would replace the income tax.

Wayne