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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Spots who wrote (1033)4/16/1998 12:30:00 AM
From: Colin Cody  Read Replies (1) of 5810
 
Spots, I really hate to disagree, but I must.
Well I don't really know if you DID disagree (g), but this is a DISCUSSION. What's wrong with a simulated DEBATE, anyway?

Do I know how THIS congress in this era would implement
a flat tax? No, I don't. Chances are it would be
pretty close to the picture you paint.

That's not what I call a "disagreement" (g)

Go ahead, file 1040EZ. That's why we're all here asking
questions, because we're all filing 1040EZ. That
makes no sense to me;

Spots, that's MY GRIPE! These "flat tax" fanatics WANT THE 1040EZ!!! They want to tax the income (from W-2 wages) at one rate, say 33%. That's what the 1040EZ does RIGHT NOW!!!! The difference? NOW we can file a 1040 w/ Sch A and itemize, so that if two people BOTH make $50,000 each But one is a healthy guy and wife with a New Caddy in the Driveway, but the OTHER guy's wife has been dying from CANCER and the Medical bills (after insurance) are costing him $40,000 a year.

Why ISN'T IT FAIR that the guy with the $40,000 in medical bills should GET A TAX BREAK? He DOES today! But the "flat tax gonzos" what to make him pay the SAME as the guy with the new Cadilac.

Those Flat Tax people you see in the Media have AN AGENDA. And it is not to have a post-card tax system...

Colin
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