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Registered Member #3546
Joined: Tue Dec 28 2010, 08:24AM
Location: Pittsburgh, PA
Posts: 18
I honestly don't understand why the laws concerning taxes have to be so complex? If they could just streamline the system by agreeing to a single SHORT list of rules on taxes and that they would not make any exceptions I could only see benefits. I mean seriously what percentage of our tax dollars get wasted each year in the IRS dealing with all this paperwork and trying to track down who is cheating on their taxes through loop holes. There wouldn't be any cheating if there were no holes to be found...
Registered Member #2893
Joined: Tue Jun 01 2010, 09:25PM
Location: Cali-forn. i. a.
Posts: 2242
I don't know when uncle sam will realize that he needs to stop taxing income and US made products, and start taxing imports; the way the founding fathers intended.
Registered Member #1334
Joined: Tue Feb 19 2008, 04:37PM
Location: Nr. London, UK
Posts: 615
Grenadier wrote ...
I don't know when uncle sam will realize that he needs to stop taxing income and US made products, and start taxing imports; the way the founding fathers intended.
Thus speaks that arbiter of free trade in the World
You can't have it both ways - if you want to be competitive, be competitive.
Registered Member #29
Joined: Fri Feb 03 2006, 09:00AM
Location: Hasselt, Belgium
Posts: 500
Taxing income is fine by me, but it should not be such an onerous job to comply with the law.... Taxes are the price we pay for a democratic civilisation (roads, railways, police, etc.) I believe the USA has the most complex tax code in the world. If Uncle Sam wants to save money, one place to start would be to sweep away that mess of deductions, exemptions, etc. and have a simple progressive tax with a few exemptions (needed to avoid double taxation, etc.)
Perhaps better that an income tax, consumption taxes (VAT, GST, sales tax, etc) are fairer in the sense that necessities could be taxed at low rates (or not taxed at all) whereas luxury goods would be taxed at a premium. Do away with income tax altogether. This might encourage investment, as dividend/capital gains would be tax free.
Any armchair economists out there with ideas on how to reform tax systems around the world?
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Tax time!
