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Technology Stocks : Discuss Year 2000 Issues -- Ignore unavailable to you. Want to Upgrade?

To: Ken who wrote (7477)	7/31/1999 3:26:00 AM
From: Mike Hermann	Read Replies (3) \| Respond to of 9818

Tax returns are not due until April 15 .

To: Ken who wrote (7477)	7/31/1999 1:14:00 PM
From: B.K.Myers	Read Replies (1) \| Respond to of 9818

Ken and bearcub I have discussed this issue of alternatives to the income tax with several people. The most common response is to repeat the old sound bytes about a flat tax or a national sales tax. But I see a very major problem with this proposed solution. A flat tax will not solve the Y2K problem. The only difference between the flat tax and the current incremental tax system is how the tax is calculated. All other calculations would be the same or very similar. Any income tax system will require extensive use of dates. It takes time to implement any new type of tax. If the IRS has serious problems, we won't have the time to install any type of new tax system. We will have to find an alternative source of revenue immediately. Remember, interest on our nation debt must be paid timely, so the funds must be available. The only federal tax that I can think of that is currently in place that could generate immediate tax revenue is the gasoline tax. If a large gas tax hike is coupled with the expected rise in price due to the coming shortage of gas and oil, the price of gas could sky rocket next year. I just don't see too many reasonable alternatives that can be implemented in time. B.K.