Don't Blame Me, I Voted For Kerry Message Board

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Politics : Don't Blame Me, I Voted For Kerry

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To: Cogito who wrote (78863)	8/3/2006 9:06:31 PM
From: TimF	of 81568

I think we have another point of agreement. Ideally the tax is also flat (perhaps with a very high deductible), but even if you have a "progressive" tax, if you remove deductions and exceptions to deductions, and exceptions to the exceptions, and special credits, and penalties, and just make it You earn X you pay Y, and compliance cost would be lower, enforcement costs would be atleast slightly lower, and the whole system would be less of a hassle. One thing that gets me is that the IRS gets a record of when you sell securities and what price you sold them for, but it doesn't get (or ignores) the information about what price you bought the securities at. One time I was late filing my taxes, and the IRS filed for me. The basically plugged in zero as the purchase price. If I bought for $40, sold for $30 (and thus lost $10 a share), they wanted me to pay tax on $30 per share.

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