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Old 09-01-2009, 05:50 PM   #16
JSWolf
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The US tax system is just a mess and needs to be scrapped and started over.
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Old 09-01-2009, 06:10 PM   #17
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The US tax system is just a mess and needs to be scrapped and started over.
That is exactly what the fairtax proposes including the repeal of the 16th ammendment.

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Old 09-01-2009, 07:58 PM   #18
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Glad to hear that this story had a "happy ending" .
lol I guess you are referring to the request for romance books. hehe
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Old 09-01-2009, 08:13 PM   #19
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The US tax system is just a mess and needs to be scrapped and started over.
The problem is, there are pet issues that will muck up whatever we end up with. Want to encourage home ownership? Allow deduction of interest, property taxes. Want to encourage hybrid cars? Give a tax credit. I don't think anyone really believes a new system will remain inviolate.

If they eliminated the tax breaks for home ownership, the housing market would collapse. Same with certain investment structures. You can argue they never should have arisen in the first place, but since they are here, it isn't as easy as just flicking a switch to a flat tax.

I'm not saying the current system is perfect. IMHO it is not progressive enough. I have the advantage of a 30,000 ft view. To me, the current system is understandable, and logical. You could certainly design another system that was both, but first we need to agree what we are tryng to achieve with tax policy. Is it just revenue? Then a flat tax would accomplish your goals. But if there is behaviour you are trying to encourage/discourage
(capital gains, gas guzzler), everyone has an opinion. That is how we got to where we are.
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Old 09-01-2009, 09:01 PM   #20
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If they eliminated the tax breaks for home ownership, the housing market would collapse. Same with certain investment structures. You can argue they never should have arisen in the first place, but since they are here, it isn't as easy as just flicking a switch to a flat tax.
Interesting... have you read the fairtax web site. there is a while section on how it stimulates home ownership... because under the fair tax all loan payments would be make tax free... not just be a deductible expense.

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Old 09-01-2009, 09:03 PM   #21
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I think this thread is turning into a Lounge topic. I'm just sayin'.
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Old 09-04-2009, 02:15 PM   #22
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Well they are finally up! But I didn't check every 15 minutes last night, so I am 2 out of 2 on the waiting list. Oh well, I will probably get September before I am off the waiting list!
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