Monday, February 13, 2006

EZ TAX FORM

With tax season upon us, the headaches have started. Everyone hates taxes to some point. Though I despise them I grudgingly concede that SOME are necessary. But it seems every year more and more regulations are inserted into the tax code. More and more of our time is used preparing tax forms, which could be better used in getting under our significant others skin. How about making the tax codes for “income tax” a one-page regulation.

WAY EZ TAX FORM


INCOME EARNED ......TAX PERCENTAGE........TAX DUE

1st $30,000 earned ...............0%.................................. $0

$30,001 to $75,000..............20%...................max of 9,000

$75001 and up ......................35%......................$26,250
(lets say 150,000)

Total due................................................................$35,250


______________________________
Signature

No deductibles no credits.

No matter how much a person earns the 1st $30,000 is taxed at 0%. The next $45,000 is taxed at 20% and any thing over that at 35%.


Each person would file (end of joint filing).

Interest on Savings accounts would not be taxed. The Government and consumer groups whine the Americans don’t save enough. Well, stop penalizing those that do then.

Here’s the kicker.

Congress shall spend no more then what tax is collected in the prior year. Any expenditure over that collected shall come out of the elected officials own pocket.

1 comment:

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