Subject: REVISION TO TAX CODES Comment: The current tax code is too cumbersome and difficult to understand, plus penalizing to individuals who work hard all their lives to build assets. Congress has given some relief to the estate or inheritance tax, but a lot more is needed in that area. Why penalize heirs for the hard work and good fortune of their ancestors. On income tax, more of the load has to be spread to the general population. All of the loopholes and exceptions are enjoyed by the most wealthy who can afford to pay for advice in this area. Make the tax structure somewhat of a straight line based on earnings. I have been a victim of Alternative Minimun tax the last two years just because a parcel of land, in my family for years, was sold for economic development. AMT has been explained to me, but it still is unclear and complex. Thank you for the job you are attempting. It is a very daunting task. John Carmena Capital gains also penalizes heirs for the hard work and good fortune of their parents. There should be a way to lessen the impact even more than has already been done to benefit middle income taxpayers. |