JDN ..
Tax simplification ..
Here's a few ideas I've had on the subject ..
1) First $50,000.00 income from any source federally
tax exempt for every taxpaying individual/entity ..
Increase the base rate by the CPI or whatever measure
of inflation the government wants to use after adoption.
2) Pick a flat tax rate ( 12% ) to tax all income
from any source, W-2, dividends, interest, capital gains,
rents, pensions, social security etc etc above the
base amount ( $50,000 ) this is also the corporate
tax rate ..
3) Preserve tax-exempt status of muni-bonds
4) Only deductions against gross income: interest on primary residence, standard deduction for families with children,
direct medical expenses, charitable contributions.
5) National sales tax of 2-3% on all consumption except
food and clothing.
6) Privitize Social Security ie you still pay into the
system, but it's your account .. functions like an IRA except
you can't touch it until retirement .. approved investments
would include bonds and equities but no exotic transactions
Am I close or nuts ?????
Triff .. |
