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Originally Posted by tw
Every Senator and Congressman must fill out his own tax returns by hand and without assistance. Currently tax accountants do it for them because they do not even understand the tax laws they have created.
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This got skipped over, but I think this is a great idea. All the BS deductions they miss… right into the coffers of the Gov’t.
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Originally Posted by Fair&Balanced
Oh and everyone does pay something into the federal treasury, in the form of federal excise taxes (eg gas tax) and payroll taxes (FICA), in which those with wages under $100K pay a higher percentage than those over $100K (since payroll taxes are only on the first $100K).
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Change the payroll tax - in essence that’s has the same effect as a deduction, of sorts. And interest income… tax it the same as regular wages. IIRC that would have one of the largest effects on increasing revenue.
OH, and thanks Pete. Bout time someone pointed the finger in the right direction.