Whose money is it anyway?
It's that time of year. You know, when Uncle Sam opens his vaults and sends out millions, or billions of dollars? You see it on TV by H&R Block, to get your share. And of course, FREE! as in tax processing. I mean, how can you pass on FREE!?
Are you ecstatic about the government GIVING you money? Or, are you one that is saying "At least a thank you, and maybe some simplification of tax filing is the least you could do for USING MY MONEY INTEREST FREE FOR THE LAST YEAR!"? See the difference? Or maybe you are like me, and "inadvertently" did not have enough withheld, and so tax time is a time to write a check.
This lack of understanding is the problem today. The tax code is tens of thousands of pages. Calling the IRS helpline only gives you a 75% chance of getting the right answer, with no mercy for you following incorrect advice FROM THEM. You know what would really cause people to get on the tax reform bandwagon? Eliminate withholding. Force people to write a check every quarter to the IRS. If they did that, they would realize all that money that appears in their tax return was really their money all along.
President Trump announced that his tax plan would be rolled out in the next couple of weeks. The stock market is still rolling from that. I would encourage you to write your Congressman, asking them to start from scratch, rather than try to "fix" the current code. Any fix will only add to the problem.
I would prefer repeal of the 16th amendment, and implementation of a National Sales Tax, with elimination of all payroll withholding and income taxes. Follow the link to the plan. They explain it better than I ever could.
You can find more info at fairtax.org.
For the Fairtax to work the 16th Amendment must be repealed. And short of a Convention of States, will not happen. http://www.conventionofstates.com/ So, until then, a flat tax would be the way to go.
Finally, the one argument that must be rejected out of hand, is the "COST" of tax reform to the Treasury. The IRS allowing us to keep our money is not spending. IT IS OUR MONEY! They didn't ask US if WE could afford tax increases. (of course the dirty secret is that some think that your money really is their money) No discussion of tax reform should start with "How much is this going to cost? Make a simplified code, and then adjust spending to match revenue.
Are you ecstatic about the government GIVING you money? Or, are you one that is saying "At least a thank you, and maybe some simplification of tax filing is the least you could do for USING MY MONEY INTEREST FREE FOR THE LAST YEAR!"? See the difference? Or maybe you are like me, and "inadvertently" did not have enough withheld, and so tax time is a time to write a check.
This lack of understanding is the problem today. The tax code is tens of thousands of pages. Calling the IRS helpline only gives you a 75% chance of getting the right answer, with no mercy for you following incorrect advice FROM THEM. You know what would really cause people to get on the tax reform bandwagon? Eliminate withholding. Force people to write a check every quarter to the IRS. If they did that, they would realize all that money that appears in their tax return was really their money all along.
President Trump announced that his tax plan would be rolled out in the next couple of weeks. The stock market is still rolling from that. I would encourage you to write your Congressman, asking them to start from scratch, rather than try to "fix" the current code. Any fix will only add to the problem.
I would prefer repeal of the 16th amendment, and implementation of a National Sales Tax, with elimination of all payroll withholding and income taxes. Follow the link to the plan. They explain it better than I ever could.
You can find more info at fairtax.org.
For the Fairtax to work the 16th Amendment must be repealed. And short of a Convention of States, will not happen. http://www.conventionofstates.com/ So, until then, a flat tax would be the way to go.
Finally, the one argument that must be rejected out of hand, is the "COST" of tax reform to the Treasury. The IRS allowing us to keep our money is not spending. IT IS OUR MONEY! They didn't ask US if WE could afford tax increases. (of course the dirty secret is that some think that your money really is their money) No discussion of tax reform should start with "How much is this going to cost? Make a simplified code, and then adjust spending to match revenue.
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