o Tax Reform

Tax reform is necessary to eliminate the weird loopholes, deductions and other nonsensical tax breaks. The solution lies in combining two taxation alternatives.

1) Set up a flat income tax of 10%. I want to clarify that a flat income tax is not really flat in absolute terms. I hate pointing out the obvious but most people are uninformed about this, so I must. If John Q. make $100,000 a year, a 10% tax for him is $10,000. If Joe Schmoe makes $50,000 per year, his yearly tax obligation is $5,000 assuming a flat tax rate of 10%. In absolute terms, the higher salary earner John Q. is contributing twice as much to the wasteful US goverment programs as Joe Schmoe. The flat rate will make the end of the year calculation for taxes very simple. I am suggesting the single rate, flat income tax for selfish reasons too. I don't want to have to sit in my accountants office for several hours and pay him hundreds of dollars to fill out tax forms I barely understand.

2) Institute a Federal sales tax on all consumer items of somewhere between 5%-10%. Fact: Higher income earners buy more goods than lower income earners. A consumer tax is nothing more than a progressive tax on wealthier people. The Federal sales tax will make up for the loss in tax dollars from the flat tax. So future government bailouts should be safe.

These tax reforms have been put forth in great detail many times, I want to reiterate that the flat tax and Federal sales tax make sense out of a muddled and antiquated tax system.