How can we change the tax code to ease the burden on our families and promote growth and innovation?

Question

Answers please?

I might want to be president of the united states

Answer 1

The answer begins is installing the fair tax.

Imagine no more IRS or worrying about April 15. This plan would repeal all federal income taxes and replace them with a national sales tax. How does that fix things? Because our tax system is so complicated, and the amount of things that are taxed are so extensive, it tends to put a monetary strain on businesses. With the removal of all these barriers, companies will be able to produce their products at a lower price. This will lower the price of the final good and account for the effect of a large increase in sales tax. Also, because EVERYONE gets to keep every dime they make, they will have more money on top of the offset to the sales tax.

That's just the beginning. Now It isn't a simple transition, but the ultimate effect is priceless. How does that sound?

Answer 2

We must ABOLISH the IRS and make a simple flat tax the law of the land. Also, when this is done, the lawmakers must forbid any taxation by the states for property, income tax, sales tax or business tax. When this is done, then America must go back to the kind of financing of schools, social programs and universal health care through federal programs and paid for by the flat tax that is collected from each person.

Answer 3

The Fair Tax

Answer 4

Flat tax. Everyone pays 10%. If all Americans are created equally, they should all contribute equally...but I'm willing to go with a percentage. It's a start anyway.

Right now, so many pay so little, if anything in taxes that they don't have anything invested in the money that congress throws away. As a result, congress spends money like drunken sailors 'buying' votes with 'a chicken in every pot' tactics.

Answer 5

Flat Tax, with a minimum deduction for everyone. Enough to cover morgtage interest on the average home owner, and average deductions at a fixed income level.
This would apply to every income level. No further deductions.

This would give all low income earners enough deduction to possibly avoid any tax. The burden would fall on heavy earners, who would receive the same FAIR deductions.

No more paperwork as we know it.

Answer 6

Well, you can lower taxes by making it a flat tax so that everyone had to get their income measured by a specific level of about 10 percent. The only thing is that you will have to cut out the deductions.

Answer 7

Bring back the preferential treatment for long-term capital gains. We shot ourselves in the foot economically when the Democrats decided to tax capital gains as current income - thus drying up our primary source of investment and innovation.

Answer 8

Thumbs up from me Alex. Fair tax all the way. Before you give it a thumbs down, at least take the time to investigate it. I have. I have family that are business owners. They have read about it and can't find fault. I also have a lawyer in the family. She can't find fault. Read about it. Then tell me what's wrong with it.

Answer 9

Ron Paul for president and all new fresh faces (completely, not half a55ed) in our House of Representatives(minus any attorneys). The House of Reps should be this country's primary focus. They are the DIRECT LINE of representation to the people.

Answer 10

I fully support the FairTax. It's time for the IRS to be abolished and all the tax accountants in this country to go looking for useful work.

http://www.hendrixcampaign.com

http://www.fairtax.org