The Trumpening
It’s estimated that the cost of tax compliance in the US is $24.4 billion (20 for individuals and 4.4 for businesses). And hundreds of millions of hours of time. Think of what would be done if that time and money was put into something productive. But I digress.
Since the tax code was recently simplified, the tax preparers aren’t doing so well:
The tax overhaul is expected to sharply reduce the number of Americans who tend to have more complicated returns because they itemize their deductions. Thats because the law doubles the standard deduction to $12,000 for single filers and $24,000 for couples, while also eliminating or limiting deductions. Employees can no longer deduct unreimbursed work expenses, such as union dues, travel expenses, and home offices. Deductions for state and local taxes are capped at $10,000.
Now, if we could reduce the tax code . . .
June 15th, 2018 at 2:24 pm
“Now, if we could reduce the tax code…”
Or eliminate it; give us a flat tithe, no exemptions for anything or anybody, and even fedgov couldn’t spend all the “compliance” that would come rolling in.
Won’t be easy if it’s even possible at all…lot of vested interests, not least of which is what you call the “cost of tax compliance” but what I call the “tax avoidance industry”…those wasted billions are their bread and butter by conversion.
That flat tax would not only redirect that coerced skimming to direct tax payments but would double the overall revenue and eliminate the business pittance entirely by passing all corporate income directly to shareholders as regular taxable income.
And any entity of any stripe that balks or avoids paying in their ten percent to live in and rebuild this republic is a traitor worthy of how they used to treat traitors…and there are plenty of those so yeah, not a chance in hell.
June 15th, 2018 at 3:56 pm
JTC –
MY flat-rate “tithe” means much greater dent in my wallet than the flat-rate ‘tithe’ of someone else who has a greater cash flow (maybe you?)
Unless you can figure out a way to pay for my mortgage interest, medical expenses, and a whole lot more that ‘the rich’ take for granted, I’ll fight your idea with great enthusiasm.
Btw, JPFO refutes the ‘Flat-Tax’, ‘National Sales Tax’, and similar so-called tax-reform measures as nothing but back-door firearms registration.
Be careful what you wish for.
June 16th, 2018 at 12:24 am
Expat, 10% is 10%, same dent for a burger flipper or a brain surgeon. Your second paragraph is lifted straight from the proglodyte playbook, so we won’t go there right now unless you insist.
And while a flat-tax could not be more dissimilar from a NST -on which we can engage later too if you like- but I’ll be damned if I can see any connection at all of either to gun rights and regulation.
I’m quite aware of what I’m wishing for here, as was he who yanked the scales from my eyes, RR.