The United States and the states must reform their tax structures to make it more equitable for everyone. Presently, the Congress is just “fooling around with the numbers” but not giving us tax reform: That means no IRS in the future.
Today 40 percent of the people pay 90 percent of the taxes.
In addition, everyone wants to be excluded from paying any taxes by gaining special exemptions at the expense of other taxpayers. This is social redistribution of wealth, and un-American and unfair.
The easiest way to redo the tax system is by making the 16th Amendment to the Constitution, which created the income tax in 1913, a flat tax of not more than 1.5 percent of a person’s gross yearly income. So, if you made $10,000 a year, you would pay $150 a year, and that is all. No tax returns, and no taxing of your savings or any other taxes.
And, if you earned a gross income of $100,000 a year, you would pay an income tax of $1,500 per year. Someone who made $1 million would pay $15,000. This tax would be taken out of your paycheck directly, as FICA is and income tax presently is. So a flat tax for all.
There would be no other deductions, tax credits, or write-offs, and no tax reporting. This would end the present outlandish tax code.
Your savings, Social Security, and stock profits would be yours, and your stock losses would be yours, and so on.
Companies would report their gross incomes through a CPA and submit a check for 1.5 percent of gross, no write-offs, no depreciations, no credits, etc.
All non-profits would pay, meaning all religious organizations, the Sierra Club, the Farm Bureau, ACORN, AARP, Democrat Party, Republican Party, unions, foundations – each would payt 1.5 percent of their gross incomes! No exceptions, no excuses, no exemptions. Why should these hundreds of billions of dollars go untaxed at the expense of all of us middle-class taxpayers? There would be no exceptions on the books at all. Yes, even God would pay!
Taxes could not be raised except by a supermajority in Congress, but only every four years, if that, and for only 0.1 percent at a time, if approved. The maxiumu would be 5 percent.
If this is not enough to run the government, then cut the government to fit the taxes. But, when everyone pays their fair share, there will be plenty of revenue.
Americans are not here to pay for the government but to support themselves and their children.
Flat taxes being considered by other groups at percentages of 15, 17, and 30 are just too high and do not solve the American tax problem with their deductions and tax credits.
A small fair tax for everyone is the solution! This is real tax reform.