Wednesday, April 18, 2007

Flat Tax, Isn't it Time?

Tax filing time is finally over! But how painful was it? How many people went crossed-eyed trying to read complex and confusing tax instructions? What is up with Alternative Minimum Tax worksheets for all? How many people had to deal with tax preparation software that had problems with installation, or problems filing tax returns electronically? How many people are positive they did everything 100% correctly?

It's time to scrap the tax code! It is beyond shameful.

We need a simple flat tax now. A relatively low (say 10%) flat tax on all types of income. A flat tax for individuals, corporations, and all entities that tax evaders might hide behind. No deductions. No write-offs. No tax shelters. No loopholes. No exceptions. It can be written on a single sheet of paper. The time is now.

It is very likely that government revenue from taxes would increase, due to greater compliance with a simple, low rate plan, and due to the fact that the massive loop-holes would be closed. Let's do the right thing.

Flat Tax now!

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