Mohacsy's Safe Portfolio Member Forum

[trkyhntr]

Thanks for the history lesson, Al. I went to my tax accountant yesterday. In any society where the general population can't understand the laws, they will not be obeyed. Unfortunately, not being able to understand the tax code is not an acceptable excuse, even though the agents whose job it is to enforce it don't understand it themselves. I support a fair tax. That would be one in which everyone pays a share of his/her income with no deductions and a flat tax rate. I would allow that a modification where nobody paid any tax on any income up to the poverty level would be acceptable, but no other deductions.

Of course the liberals would screme that it was a tax break for the rich, but that would hardly be the case. How many millionaires do we have in this country that pay no income tax at all? If you are rich enough, like Teddy Kennedy, you hide all of your wealth in tax shelters and trusts. The rest of us have to pay more to make up for that which he hides. He is not alone.

The problem is that our politicians have found that they can buy votes by monkeying with the tax code. They have monkeyed with it so much that it is impossible. It is time to scrap the whole damm thing and start over.