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Politics : Politics for Pros- moderated

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To: LindyBill who wrote (86917)	11/18/2004 11:33:21 AM
From: Valley Girl	Read Replies (1) of 793694

Giving people an option will just increase the complexity. Everyone would feel obliged to figure their tax both ways and file whichever version resulted in the lower tax. A truly flat tax would have to gore a couple of sacred cows, specifically the home mortgage interest deduction and the preferential treatment of capital gains and dividends. Neither of these aspects of the current system is especially fair, yet I'd not hold my breath waiting for them to get the axe. They could at least eliminate some of the more odious complexities, such as the AMT and the deduction phaseouts. And they could reduce the number of brackets, perhaps even to just one, provided standard deduction was high enough to effectively cut it off to zero at the lower end. That's about as close to a flat tax as I'd ever expect to see. P.S. on all the talk of a VAT and/or national sales tax - eeek! Ask someone from the UK how much they love the VAT. Democrat campaign slogan for 2008: "No new taxes!".

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