Tax Simplification

[nbcrusader]

Panel to Recommend Major Tax Law Changes

WASHINGTON (AP) - Chosen to find a simpler way to tax the nation, a presidential panel is set to recommend two designs that would rewrite virtually every tax law for individuals and businesses.

Under the plan, most deductions, credits and other tax breaks would be eliminated along with much of the paperwork and equations that baffle taxpayers under a drastically simplified income tax.

But many, including the nine members of the presidential commission, have said key recommendations will be unpopular.

Unfortunately, it will be far easier politically to kill any broad-based meaningful tax reform than to explain it to the public.

 

[joyfulgirl]

As a new homeowner, I would personally be pissed if my tax breaks disappear any time soon. That said, I really haven't absorbed this enough to know who wins and who loses. At the moment it's just all about ME.

 

[Irvine511]

is simplicity in the tax code the best thing to aim for?

is a flat tax -- which is where i see this national discussion leading towards -- fair?

should people who make more money, and can thusly say that society has been very good to them, be obligated to pay significantly higher taxes than those who make less money even though the privileged tend to use less of the benefits (public schools, public transportation) than those who pay less in taxes?

 

[deep]

joyful

you may be safe

thay are talking about lowering write-offs

it would mostly hit in CA, NY, MA and some parts of FL that all vote blue.


this is a way to pay for tax cuts to the very rich

 

[melon]

Hey...if the Bush Administration wants to create a tax system where I pay less and the rich pay more, that would be great.

But, as I see it, it's just another excuse to pass the buck to those who can least afford it. It's the Republican way, after all.

Melon