Do you hire a bookkeeper to do your taxes now?
Yes. Because of all the convoluted deductions and allowances specific to my industry.
This small businessman does not. I find Turbotax quite capable...as well as my own planning.
Turbotax cannot handle DAILY CASH RECEIPTS, and then SPECIAL BANK ACCOUNTS for TAX RECEIPTS. Because co-mingling tax monies with company funds, is illegal and will be so - if not immediately, then the first time a business owner dips into tax account monies.
If we got rid of all taxes. And did a flat tax on net income..... that could be changed at whim of the next obama. Like our heath care.
Yes. The problem is systemic. Which is why we need TERM LIMITS to destroy the Elite Political lifer-class. And THAT will only happen with an Article V Convention.
Rearranging the deck chairs, is just wasted energy.
Ted Cruz was right. Lets... "Vat" if you want to call it that. It broadens the tax base.. everyone should pay. If they can vote.
Europe has that. It's a deep, crushing tax that saps the wealth out of the productive class, and punishes the creation or sale of anything productive. Tracking the tax liability is also a nightmare.
I don't recall Cruz endorsing a VAT, but if he did, HE IS WRONG.
I'd go a bit further and put in place a Constitutional limit on that tax... only to be exceeded in times of total war.
Certainly would be less burdensome than today's tax code for a small business.....like mine.
I'm ready to agree with ANY cap on taxation. But given the Left's track-record, given the Political Class's fondness for jacking taxes to the point of collapse or revolt...any total overhaul will be perverted.
And as I'm trying to say, it will be onerous and costly and expose us to other risks of game-playing by the Elites.
First, keep it transparent. A VAT fails. This Fairtax sets the stage to morph into a VAT. A flat-rate tax is very-easy and plain to understand - and to see when the Elites are up to their normal tricks.