We've all heard old Ben Franklin's quote, " ... in this world nothing is certain but death and taxes." Tax reform is being worked on for Fall legislation.
Another idea for debate might be the old idea of a FLAT TAX as Steve Forbes describes in the , (Opinionjournal)today.
President Bush's Administration is fighting many GIANT political battles. This Fall, TAX REFORM is among them. We need to look at all the options, including this one.
"...In 1986, Ronald Reagan simplified the tax code somewhat: A number of tax shelters were eliminated and the number of tax brackets were cut to two: 28% and 15%. But the code remained intact. No sooner was the ink of Reagan's signature dry than Washington politicians slid back into their bad, old habits. Since his day, the federal income tax code has been amended 14,000 times. The tax system today is 60% larger than it was after the Reagan reforms."
We need to study this issue(read this article, Flat Tax Revolution "The Fair Tax book" etc), put all the options on the table, and hammer out a fair tax to replace the antiquated system we now have.
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1 comment:
Great Book! I got my copy, and I've noticed everyone, from every class is reading it!
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