JLC: <<<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."Except that most of the Tax code is about defining income.For a business is the revenue from ggods sold all income that is taxable? IOW, I am asking whether you simple proposal makes costs of goods sold irrelevant?"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."See prior commentIt would not take years, it would happen immediately before you could even pass such a law.Regards, JAFO
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra