Abolish the IRS and replace with 10% Flat Tax
MEASURE E REPLACES the current Income Tax Code, approximately 10,000 pages long, with the following CODE, which is ONE PARAGRAPH long.
Starting as of Fiscal Year 2010, all income tax for individuals is hereby abolished under present IRS code, and replaced with one Flat Tax of 10% of all income. There shall be no deductions, no loopholes, no exceptions to this tax of 10% of all personal income no matter how or where derived. No taxpayer shall be required to file an Income Tax Return as of that date forward. All payers of income to an individual over $100 in any tax year shall be responsible to WITHHOLD 10% and send it in to the United States Treasury. All current Income Tax Code relating to Individuals is hereby repealed..
This concept would virtually eliminate the need for Taxpayers to have to do any more accounting to the Federal Government as concerns their income. All employers, banks, Investment companies, etc, would be required to send the 10% of the income they pay to employees to the IRS and the IRS would simply watch out and enforce this law. No more audits, or bookkeeping that the average American is forced to do, spending an average of 80 hours every year struggling with the reporting requirements of the IRS. The current system is over-burdensome and people in the HIGHEST INCOME BRACKETS have so many loopholes, tax attorneys, Clever Accountants, etc., that they rarely pay 10%, while the rest of us pay a higher percentage. This change in the tax system would fund the US Treasury for everything they needed to do but would take the burden of taxation off the average citizen. It would also put hundreds of thousands of tax attorneys out of business.
Critics will say that not enough revenue would flow into the U.S., Treasury under this system, but actual studies have shown that MORE REVENUE would flow into the Treasury due to far less ability to cheat the system. Instead of pulling off phony deductions, all taxes are WITHHELD from employees and sent directly into the government at the TIME IT IS EARNED. Thus the Government saves BILLIONS from not having to wait UNTIL the FOLLOWING April 15th to collect their largest monies. ALSO, everyone would be forced to pay, even illegal alien workers who currently PAY NO TAXES because NOTHING is withheld from their INCOME. With this law change, all employers MUST send in 10% of every paycheck and that increases the taxpayer base to EVERYONE FAIRLY. AND, the IRS would have no COLLECTIONS costs. So, in the end, the Treasury would actually EARN MORE from citizens. The BUDGET would have to be balanced perfectly to not exceed these REVENUES, especially if 'MEASURE C' PASSES, which forces Congress to Balance the BUDGET OR NOT GET PAID.
THE ONLY OTHER CORRESPONDING ISSUE to consider here is THE CORPORATE TAX CODE. I will not attempt to DEFINE a Corporate Tax Reform BALLOT MEASURE TODAY. However, it should be noted that CORPORATIONS pay less than individuals in this country. AND, many of the largest and RICHEST CORPORATIONS have OFFSHORE BANKING in order to AVOID paying INCOME TAXES. This should be abolished and a sister NATIONAL BALLOT MEASURE should come along that would MAKE IT EASIER for CORPORATIONS to pay their fair share. IF any corporation does business in this country, certainly a portion of their income should be taxed. THEY should not be allowed to get off SCOTT FREE as many do today. EXXON/MOBIL earned profits, the LARGEST IN HISTORY, in the last few years OVER 100 BILLION DOLLARS in PROFITS and PAID NO TAXES. AND IN FACT, they RECEIVE WELFARE in the form of SUBSIDIES from our VERY GENEROUS GOVERNMENT. Is this ACCEPTABLE TO YOU? AND, why do you think they can get away with this? Because they BRIBE our CONGRESS to keep it that way. THIS IS ONE OF THE REASONS our country is BROKE.
IS THIS ANOTHER REASON TO VOTE FOR THIS MEASURE TO GET THE IRS OFF THE BACKS OF THE AVERAGE CITIZEN and force this agency to GET OUT THERE and WORK ON CORPORATE TAXES instead?
WHAT IS YOUR CONCEPT OF A NATIONAL BALLOT MEASURE to REFORM CORPORATE INCOME TAX CODE? Send them to us here.