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Taxes Made Simple

Submitted by Charles Fink, Jan 28, 2008 23:50

But for the single rate, where's the difference between this and the current system? Oh, yeah. It would allow "'subtractions' defined by Congress" instead of deductions and credits. All I see here is an opportunity for Congress to start all over again with targeted deductions…oops, sorry; I meant subtractions…with which they can curry favor with some constituents at the expense of others.

The author of this article, David Lifson, even managed to distort the Fair Tax into a Flat Tax on income ("…it is not the flat tax promoted by Messrs. Huckabee and Hall/Rabushka.").

Mr. Lifson should know that the Fair Tax has absolutely nothing to do with income and would not "adapt the current tax structure"; it would completely replace it and eliminate the IRS at the same time. Mr. Lifson needs to visit www.FairTax.org or www.FairTaxGroups.com for more information. Better yet, he can go to the Libary of Congress at http://Thomas.loc.gov and read the Fair Tax implementing legislation, H.R. 25 or S. 1025, for himself.

I also noted that the author of this article is a CPA and a co-managing partner of a CPA firm. No interest in continuing complex tax rules there, I'm sure.

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Other reader comments on this article

Comment	By	Date
...now where is that Tea? Folks it's past time for that 21st Century Tea Party we have been waiting for.... [MORE]	FairTax Fan	Jan 29, 2008 23:08
The fact that this DOES NOT dismantle the Orwellian, privacy destroying, reporting mechanisms or the withholding mechanisms dooms this "plan"... [MORE]	Betty	Jan 29, 2008 17:39
The Fair Tax has over 23 million dollars in research thru the years. Has many economists from well universities such... [MORE]	Robert F. Liker	Jan 29, 2008 15:40
SET ia another version of a flat tax on income. History has proven such a tax does not work. Our... [MORE]	Fair Tax Supporter	Jan 29, 2008 07:41
I do not see the substantive difference between this SET Tax and the Flat Tax. Both are single-rate taxes with... [MORE]	Jim Bennett	Jan 29, 2008 03:53
This proposal simply resets the current income tax system back in time so that it can regrow into the monster... [MORE]	Mark Kuster	Jan 29, 2008 00:12
But for the single rate, where's the difference between this and the current system? Oh, yeah. It would allow "'subtractions'...	Charles Fink	Jan 28, 2008 23:50
These guys have got to be joking..SET tax.Why not call it the THUMB tax.Everyone will feel it each time the... [MORE]	FrionTx	Jan 28, 2008 23:03
This is just another tool for social engineering. Reward this and don't reward that. Nursery School for taxpayers. I'm sick... [MORE]	diane	Jan 28, 2008 21:38
I aplaud their effort but, their plan does absolutely nothing to mitigate the inevitable tweaking that led our one-time flat... [MORE]	Charles Transue	Jan 28, 2008 21:27
Straightforward unConstitutional direct taxation. Anyone who thinks this is tax reform just wants more Socialism. The 'authors' of this scheme are... [MORE]	FairTaxWarrior	Jan 28, 2008 20:32
This in no way compares to the benefits or fairness of the proposed FairTax. It does not do away with... [MORE]	Bill	Jan 28, 2008 18:50
This approach, while inventive, cotinues to allow politicians the opportunity to modify the tax code to satisfy various special interests.... [MORE]	Jim Ullom	Jan 28, 2008 17:36

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