Is it time for a flat tax and a massive downsizing of the IRS?
Published on 2009-04-23 10:40:36 - Nathan Burkes
- Flat income tax across the board
- No deductions for anything
- Fair regardless of living or working situation
So, when Geitner, the guy that runs the IRS cannot do his own taxes properly, maybe it's time to purge a bloated and costly system that favors social classes. Does it not seem time to just scrap the massive tax code, eliminate all the loop holes that so many abuse, and just set a flat income tax?
I've talked to dozens of people regarding such a change and not a one, not even the CPAs I know, think that this is a bad idea. So why doesn't our government make the change? Can you imagine the staff reduction that would occur in the IRS itself? That equates to massive governement savings. Then, consider the money that would no longer be lost through loop holes, etc.
If Obama and Geitner want to do the right thing, one of those "things" is to correct an outdated and convoluted system for something that is downright basic. A flat tax for all income, no deductions, and viola, fairness.
