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Originally Posted by gales0678
the code is too complex Geithner , charle rangel , even Prescott Bush years ago had tax issues if i remember right
here is what s/b done , but , won't be by either party
very simple Barack new federal taxes on income
if you make under 50K it is zero
if you make under 100k it is 10 %
if you make under 250k it is 25%
if you make under 1mm its is 35 %
if you make > than 1mm it is 40%
all taken out of paycheck by employer - no more deductions - no more need for anyone to ever have to file
if self employed - must pay quaterly
this would eliminate the need for the IRS
but this is too easy a solution for either party to see because both parties get big $$$ from co's interested in keeping the tax code so complex that the man who is going to run the US Tresaury dep't can't even explain to a 3rd grader how to pay his own taxes
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the code may be complex, but i don't think it's too much to ask that the guy running Treasury be able to comprehend that code enough to pay his taxes correctly. isn't the saying 'ignorance of the law is no excuse'? what, he worked out of country, he thought he got a pass on that stuff? now, i'm glad he paid it back-but i would think it would cause some hesitation in the confirmation process. if it ends up not being enough of an issue to keep a (hopefully) good choice out, fine. but i think they should check it out more fully before giving the guy the green light.