Tuesday, November 01, 2005
Tax Reform Panel Reports
Well, the tax code needs to be fixed, that is for sure. What I am not sure about is the recommendations that have been presented to the Secretary of the Treasury. I hope this leads to a massive, evolutionary change.
President's Advisory Panel on Federal Tax Reform Final Report
Check it out for yourself. If you pay taxes, it's important you understand the proposals and it's important that you tell your government what you think.
Personally, I think our current tax system is in shambles. Here's my proposal:
President's Advisory Panel on Federal Tax Reform Final Report
Check it out for yourself. If you pay taxes, it's important you understand the proposals and it's important that you tell your government what you think.
Personally, I think our current tax system is in shambles. Here's my proposal:
- Eliminate all income taxes and start from scratch.
- All persons with income two times the poverty rate and below are exempt from paying income taxes.
- Everyone else pays x percent of their income. My suggestion is 15-19%.
- Everyone else pays the same damn rate - no exceptions.
- There are only two exemptions to the income tax:
- A deduction for purchasing your first home.
- A deduction for charitable contributions up to 25% of your income
Kicknit 11/01/2005
1 Comments:
Sounds good to me, but I think the government should be able to get by on only 10%. Total - including federal, state, local, sales, property, the whole kit and caboodle. That, and a maybe a balenced budget amendment. Make the government prioritize its spending and the people take responsiblity for their own lives and businesses.
