Thursday, August 03, 2006

Tax Reform

Here is my idea of reforming the US tax code.
1) Replace the current progressive tax code with a flat tax of 10% to
     15%.
2) Remove all the deductions.
3) Eliminate the capital gains tax. Most other countries don't have a
     capital gains tax.
4) Eliminate the death tax.
5) Eliminate taxes on dividends.
6) Eliminate taxes on interest on savings account, money markets,
     etc.
7) Reduce the payroll tax so working people save more of their
     paycheck and/or able to buy more health insurance.
8) Make the social security tax optional. If the program is good
     workers will automatically join it. This idea can actually apply to
     any gov't program.

1 comment:

Anonymous said...

Too late pal, the government has you over a barrel! There will be no reform because the power brokers are already in control. The only way we could change things is to do what they did in the 17 and 1800s with unfortunately a lot of bloodshed. But until then, nothing will change. The manipulatives are already in place. THINK ABOUT IT!!