Taxes
A flat tax is the best way to get this c0untry moving again.
Note: The flat tax discussed here is not original. It was stolen from the book The Flat Tax Revolution by Steve Forbes. I highly recommend reading it.
Our nation's tax code is, honestly, a fiasco.
As Forbes notes in The Flat Tax Revolution, this nation's tax code is nine million words long and is so confusing the IRS gives out wrong information one-quarter of the time. Not only that, one time, as a test, a variety of professional tax preparers were given the same information for a family and every single preparer, each a highly trained professional, came up with something different!
For no other reason than the fact we are American citizens, we deserve better. We deserve a tax experience that doesn't fill us dread, and a tax form that can be completed in a few minutes and on a single sheet of paper.
It's time for a flat tax. A 17 percent tax on both businesses and individuals would leave business and individuals with more money. After paying the bills and putting some money away, citizens would have more money to spend, and businesses would have more money to meet these needs, as well as more money for innovation and expansion. Tax revenue lost due to the tax cut would be made up because there would be more people working., plus the higher incomes that would be a part of a booming economy.
I also favor eliminating the capital gains and death taxes. Some think this would only benefit the rich, and certainly, they would benefit because they invest more and leave larger estates than us regular folks, but it would benefit everyone.
I am not a wealthy man, but I've made some (very) modest profits on stocks. Where did the money to invest come from? From a bonus check at work, income that had already been taxed. I chose to invest it buy purchasing some stocks. I didn't have to do that. I could've blown it on a vacation or saved it or, since we were living in Las Vegas at the time, placed it all on red.
After holding on to it for awhile, one of those stocks showed a modest profit, profit there was no guarantee of making. The investment could easily have lost money. In fact, one of the stocks we bought has lost value. On a percentage basis, an awful lot of value, though it was a penny stock and wasn't worth much to begin with.
Is the government going rebate my losses? No, they're not. Should they? Of course not. It is not the purpose of government to insure private investments of this sort, so they shouldn't tax the profits, either.
Let's forget the financial aspect of a flat tax for a moment. We are entitled to not be filled with dread when we do our taxes! We are entitled, simply by virtue of being American citizens, of a tax form that can be prepared in a few minutes on a single sheet of paper.
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