End ALL exemptions, deductions and credits and modify the tax bracket system?

Question

Should the US government end ALL exemptions, deductions and credits. It doesn't matter if you're a business, corporation, single, married or have childred.
Modify Bracket system; 11%, 17%, 24% and 31%

Answer 1

Never happen. That would cripple the working poor and the middle class would buckle at the knees. The wealthy would get a nice tax break. Screw that!

Thankfully the neo-cons no longer have the base to make something like that happen. They're about to learn the meaning of the term "marginalization."

Answer 2

I did a 180 turn on my answer, since I came to my senses. The lowest tax rate is higher than what we currently have, and would hit the poor the hardest since they have the lower tax brackets. You'd actually raise the lowest rate from 10% to 11% and eliminate all the deductions that the poor get to minimize their tax burden. Maybe if you had the lowest bracket be either 0 or 5%, you might get more support for it, but not with the bottom rate that you've proposed. Why not make the top bracket about 40%. The rich have enough money, they don't need more of it.

Answer 3

The issue is politicans reward their friends and supporters with loopholes written in the tax code., They also use the tax code for social engineering IE: lets tax this product, because we don't want people to use it. 2. Its about the only 100% non partisan issue there is, both parties do it equally and always have.

Answer 4

I see you lower the top end but raised the bottom end.....

...plus, the elimination of the EIC would severely damage the working poor.

Your scenario, for multiple reasons, shifts the tax burden from the rich to the poor.

Answer 5

This would hit the poor hard, you realize.

Answer 6

NEVER happen to many "interest groups" out there who will never allow it to happen.