Obama Nominations

[joeydb]

Originally Posted by gales0678

the code is too complex Geithner , charle rangel , even Prescott Bush years ago had tax issues if i remember right

here is what s/b done , but , won't be by either party



very simple Barack new federal taxes on income

if you make under 50K it is zero

if you make under 100k it is 10 %

if you make under 250k it is 25%

if you make under 1mm its is 35 %

if you make > than 1mm it is 40%

all taken out of paycheck by employer - no more deductions - no more need for anyone to ever have to file

if self employed - must pay quaterly

this would eliminate the need for the IRS

but this is too easy a solution for either party to see because both parties get big $$$ from co's interested in keeping the tax code so complex that the man who is going to run the US Tresaury dep't can't even explain to a 3rd grader how to pay his own taxes

Why not just ONE rate? Earn twice as much, pay twice as much. Earn half as much, pay half as much. Put in a poverty line offset -- don't count first 50k or so.

Doesn't get any fairer than that. Because "fair" cannot be defined, but "proportional" is easy to implement and tough to argue with.