my corporate tax plan: Stop the Tax Madness
Let's face it, the U. S. tax system is hopelessly broken and is beyond repair. It is a massive collection of patchwork fixes to real or imagined problems, special favors for selected individuals and groups and attempts to implement social engineering to control or influence the behavior of all Americans. Every attempt by Congress to correct something "wrong" with the tax code results in additional layers of complexity.
For every tax break or credit one group receives, another group must make up the difference. For every child tax credit a parent receives, a childless individual or couple must pay. For every mortgage interest deduction a homeowner claims, a group of renters must pay. For every tax credit received by businesses in one industry, a small business in another industry must pay.
My plan to tax only corporations and scrap the income tax would not eliminate special interests. It would only strengthen the corporate special interests and eliminate associations of private citizens like the Tax Payers League of Minnesota and the National Taxpayers Union. I don't think a National Sales Tax would have the same effect.
There are bills in both the House (H. R. 25) and Senate (S.1493) to implement the Fair Tax). [a National Sales Tax] and abolish the income tax. (The text of both bills may be found by searching the Thomas database at http://thomas.loc.gov).
Give them a look.
Saturday, April 17, 2004
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