The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/you-are-grumbling-but-what-is-your-proposal-30656529.aspx

Subject:  Re: Tax Deferred Annuity right for me? Date:  4/27/2013  2:07 PM
Author:  JLC Number:  118505 of 121222

You are grumbling, BUT WHAT IS YOUR PROPOSAL?

KISS (Keep It Simple Stupid). Firs $20k you make (from any and all sources), tax free. Everything else above that 20%. No write offs, no deductions. Would fit on a postcard.

Why should I get to write off a % charitable donation, mortgage interest, IRA contribution, etc.? I can either afford a house or I can't. Its a good cause I want to support or it isn't. I save for retirement/rainy day or I work till I'm dead. I AM PERSONALLY RESPONSIBLE FOR MY OUTCOME, not society nor Uncle Sam.

Something similar could be done for businesses.

The problem is, you get a bunch of jackwagons in Congress fighting/defining what is income. And in a few years you have 73,000+ pages of tax code.

JLC
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us