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Consider a flat income tax to replace the current system

Created by J.C. on February 19, 2013

A flat tax, with a standard deduction of some multiple of the federal poverty line, and redefine income as any money coming in, regardless of source, during the course of the tax year. This means that pay, interest, dividends, bonuses, inheritance, etc., get lumped into a common pot and taxed equally. The IRS can be reduced in size over time as the deadline for audits under the old system passes, Mandate that any further changes to the tax code be standalone bills, publicly sponsored and debated, and requiring a recorded vote for passage – no more attaching an anonymous rider to a “must-pass” bill to benefit one company or small sector of a particular industry.

Budget & Taxes
Economy & Jobs
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