We need lower tax rates on income, capitals gains and dividends, lower individual tax rates and lower corporate tax rates. In fact, we need a single 15% rate on all income.
We definitely don’t need more hand outs on food stamps and unemployment compensation.
We need a three-step program to tax reform:
1. All members of Congress, all Congressional staffers, and anybody on the White House payroll has to file their own federal income tax. Not use Turbo Tax, not hire a consultant or H&R block; sit at the kitchen table with a pencil, stacks of tax information papers, a blank 1040, and the same instructions the IRS mails out to normal people.
2 Either change tax day to the first Tuesday in November, or change election day to April 15.
3. Implement term limits.
As far as specifics regarding what the tax code should look like, well, the only fair tax is the tax that taxes you and not me. The rest is details.
Need to get rid of the “death” tax, altogether, too.
I would say that is a good start. However, we need to scrap the current progressive tax system we have.