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Strategies & Market Trends : ahhaha's ahs
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To: ahhaha who wrote (3244)10/20/2001 11:01:11 AM
From: FR1Read Replies (1) of 24758
 
I think a great deal of savings could be made in just simplifying (not changing) the current payroll tax structure.

When you write a payroll check you have FWH, SWH, FUI, SDI, STR, etc.

All of these taxes are a % of the gross pay except FWH and SWH which can be made a % based on deductions.

I can't think of any scientific reason why an employer can't simply make one deduction based on a percentage of the worker's gross income and the worker's deductions claimed. We could have a phone number (or web site) that employers dial. You punch in your zip code and you get back the % to be deducted from gross pay for x exemptions.

The employer then sends payment into one national address.

Job done - simple calculation - you can do it in a second. No big tax forms to worry about. One simple form that simply has employee SS#, Gross Pay , Exemptions and amount sent in. You could even do this submission on line through your bank so there is no paper.

The national office then dispenses the proper taxes to the state and federal governments.

The way we have it now every employer in the nation is up to their ears with paper forms and accounting work all of which could be done very simply by a single national computer. I think we would save a great deal of money with something like this.
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