Subject: Revenue Comment: Your panel of experts certainly understands the problems with the current tax code, and revenue required to run the federal government. We applaud all genuine efforts to reform the tax system. Our economy is consumption based, individually savings deficient, and highly leveraged. Five percent of the taxpayers pay over 50% of the income taxes. The problems with the AMT, and other tax structures are well known. Regarding reforms, the differences between what can be done and what will be done are political. Certain influential groups have their sacred cows, deductions and credits that they will protect from sacrifice to the greater good of genuine fair reforms. To reform the tax code is to reform the ways of political influence. Good Luck. Most of the comments I've read from individuals and small business seem to support the so called "fair tax" or some national sales tax. What do the lobbyists of big businesses, professional and trade associations want, or reasonably expext to get or protect ? You know. As an individual taxpayer, I suggest a system that is broad based, revenue neutral or positive, abolition of the AMT and death taxes, eliminating home mortgage interest deductions, encouraging savings with tax exempt interest on US treasuries for US citizens, capital gains tax rates at 15% permanantly, flat tax rate on all income |