Search This Blog

Sunday, October 7, 2012

Let's become more like Russia!

   You are probably wondering if I fell out of a tree or got kicked by a mule to make a statement like that.   But, no, none of those occurred to me.  Of course I am not saying we should go the course of the 1917 overthrow of the czars by the communists.  Instead I am saying we should follow their lead (and 42 other countries) that have a FLAT TAX RATE. 

   Russia had tried the "progressive" tax system (like ours) with all of its deductions and credits and found that a very few people complied.  By flattening the tax system and simplifying it it increased participation greatly.  

Reasons for a flat tax:

1) It's fair!   No loop holes .. no special excemptions ... no misinterpretation
2) Free up companies to spend on productive jobs.  Instead of hiring a host of tax accountants and  
     lawyers, they could hire more people to make or support their products
3) Reduce needed waste in tax reporting to the IRS
4) It will stop Congress from thrashing its citizens with endless changes to the tax code
5) Hopefully states will follow suit and April 15th will just become another day on the calendar.
6) Encourage other countries to set up shop here in the US since they won't be inundated with an
     illegible tax code and bring more jobs to OUR COUNTRY
7) Encourage more Americans to invest in our country.  Let's face it America many of us shy away
     from investing in businesses or the stock market because we don't have a tax accountant to help
     us navigate through the federal mess.  By simplifying the system more of us regular Americans
     would be able to invest with confidence that we are not going to get some ugly audit letter from
     the IRS




No comments:

Post a Comment

Note: Only a member of this blog may post a comment.