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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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Why not just ONE rate? Earn twice as much, pay twice as much. Earn half as much, pay half as much. Put in a poverty line offset -- don't count first 50k or so.
Doesn't get any fairer than that. Because "fair" cannot be defined, but "proportional" is easy to implement and tough to argue with.