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Topic:
I am not convinced how effective 'simplifying the tax code' would really be [Locked] |
Grymlo  Posts: 415
Registered: 2002-4-30 05:51:06
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Date Posted:
1/1/00 12:00am
Subject:
I am not convinced how effective 'simplifying the tax code' would really be |
Modeeb posted:
There are over a hundred years of some quality jurisprudence in the tax code. But , there are a bewildering amount of tax laws designed to social engineer, many to retain the status quo, and some obvious loop holes -exploits paid for by those in power owning the politicians making the laws. I have made arguments many times against the weaknesses of a flat tax. I think every tax professional on this board knows those arguments (e.g. the tax rate is one of the easiest part of applying the law, arriving at taxable income is where the common law has made many advances). I can make them again and again-but why?
It was close to insane eliminating the estate tax altogether. Btw, flat tax heads, what will you do about state taxes? Most of those who want the flat tax, dont understand the tax law.
State is state, fed is fed. What are you trying to get at?
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Sin_of_Onin  Posts: 1,307
Registered: 2005-6-29 08:21:12
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Date Posted:
1/1/00 12:00am
Subject:
I am not convinced how effective 'simplifying the tax code' would really be |
Grymlo posted:
It does but not anywhere near the amount of problems our current plan has.
It has less problems but they are generally bigger problems.
Depending on the flat tax plan the problems can actually be really bad for small business. The economic incentives created by a flat tax are just as impactful and harmful than our current system. The major benefit of making tax prep easier is really the only thing a flat tax has. Economic incentives, progressivity, winners and losers, etc are very hit and miss.
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"What Jesus fails to appreciate is that it's the meek who are the problem"--Reg
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theredkay1  Posts: 611
Registered: 2008-5-16 10:37:09
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Date Posted:
1/1/00 12:00am
Subject:
I am not convinced how effective 'simplifying the tax code' would really be |
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The phrase 'simplify the tax code' means a hundred different things depending on who is selling it.......but right after the legislation passes, every group in the country will be back to work trying to get preferential tax treatment plugged into the new simpler tax code. It seems a never ending game.....
Flat tax obviously doesnt simplify anything. There is nothing complicated about paying higher rates as your income goes up. If you can muck up the current system with endless loopholes and confusion, you can do the exact same thing to a flat rate.
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GrilledCheez Title: The Lord's Balls
Posts: 1,060
Registered: 2006-3-22 11:06:32
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Date Posted:
1/1/00 12:00am
Subject:
I am not convinced how effective 'simplifying the tax code' would really be |
Effective at what? It would do some things. Most of them not as good as they used to be.
the fairtax is awesome in the same way monster truck rallies are awesome. They let you know who to ignore right off the bat.
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Another word for expensive is successful.
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NuEM Posts: 1,007
Registered: 2004-3-2 09:08:11
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Date Posted:
1/1/00 12:00am
Subject:
I am not convinced how effective 'simplifying the tax code' would really be |
Aerlinthian posted:
Everybody and their mother knows that the entire system needs to be nuked from orbit and rebuilt.
I'm very skeptical of things "everybody and their mother" know, as it turns out everybody and their mother are often full of sh!t.
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Yukishiro1 Posts: 3,243
Registered: 2002-9-20 23:52:57
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Date Posted:
1/1/00 12:00am
Subject:
I am not convinced how effective 'simplifying the tax code' would really be |
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Simplifying the tax code would produce some short-term benefits but within years you'd have something close to the old code as various interest groups got their hands on it and got most of the old complications put back in.
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Cawlin Posts: 1,759
Registered: 2005-2-22 07:58:42
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Date Posted:
1/1/00 12:00am
Subject:
I am not convinced how effective 'simplifying the tax code' would really be |
Presently the tax code provides legions of accountants with a living, legions of government employees a living, and untold terabytes of digital bitching flying through the ether which keeps legions of information services going...
simplifying it has far reaching implications people! THINK! 
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If ignorance were painful, half the posters here would be on morphine drips.
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Sin_of_Onin Posts: 1,307
Registered: 2005-6-29 08:21:12
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Date Posted:
1/1/00 12:00am
Subject:
I am not convinced how effective 'simplifying the tax code' would really be |
Cawlin posted:
Presently the tax code provides legions of accountants with a living, legions of government employees a living, and untold terabytes of digital bitching flying through the ether which keeps legions of information services going...
simplifying it has far reaching implications people! THINK!
Actually making it so most households can file a very simple form would be a good goal. Standard deductions exist for a reason.
-----signature-----
"Okay... I'm with you fellas" --Delmar
F is for Fake-believe
"We apologise for the inconvenience" --God
"What Jesus fails to appreciate is that it's the meek who are the problem"--Reg
Run, Forrest! Run!
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Moe_Nox Title: In Moe We Trust
Posts: 1,962
Registered: 2007-2-4 12:17:56
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Date Posted:
1/1/00 12:00am
Subject:
I am not convinced how effective 'simplifying the tax code' would really be |
The larger the regulation the more places loopholes have to hide, typically.
A simplified tax code that doesn't punish families for marriage or kids, and doesn't punish business for reinvestment and creating domestic jobs, is preferred.
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The Nanny State cometh
Currency should be bacon cheeseburgers and blow jobs... - Reese
Life at the Outpost: http://www.collegehumor.com/video:1771556 |
Yukishiro1 Posts: 3,243
Registered: 2002-9-20 23:52:57
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Date Posted:
1/1/00 12:00am
Subject:
I am not convinced how effective 'simplifying the tax code' would really be |
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The tax code doesn't punish anyone for having kids and never would. Although what you really mean may be "the tax code should reward you for having kids," which it does currently and which would obviously be an area of major contention in a simplified tax code. Just like the mortgage deduction is.
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