Each year millions of Americans spend great deals of time and money to file their taxes. The best prepared are able to take advantage of numerous credits and deductions while the less knowledgeable are not. To simplify the process and preserve the progressive nature of of our tax system, a flat tax is needed, combined with single deduction to protect those with lower incomes.
By setting the deduction at the federal poverty level, the poor will protected, and the middle class will enjoy a deduction similar to that of owning a mortgage.
By including capital gains, dividends, and other forms of income, the wealthy who do not pay income tax currently will also contribute.
Such a tax system would be simple, fair, and save hours of aggravation for the average American.