title says it all. This'll be my I think third thread on the topic over the course of the past year. . first time with a poll though! For individuals the tax code is overly complicated, it serves as a costly burden for the poor and middle class to file, and provides too many "outs" for those in the rich class. The AMT for example affects those in the 75-500k range the hardest but not the super rich. For individuals should regular income be taxed at these rates? Provide perhaps 10 possible deduction types. A single sheet of paper to fill out at the end of the year. Won't go into CG tax, but that is another matter as well.
Simplifying would generate more revenue and waste fewer dollars, both on part of the indivuduals and the IRS. .
bracket / married / single
10% $0 $17,400 ___ $0 $8,700
15% $17,400 $70,700 ___ $8,700 $35,350
25% $70,700 $142,700 ___ $35,350 $85,650
28% $142,700 $217,450 ___ $85,650 $178,650
33% $217,450 $388,350 ___ $178,650 $388,350
35% Over $388,350 ___ Over $388,350
It's the congress's responsibility to fix this, the IRS is limited in what they can do. If there is ANY non-partisain issue, this should be an easy one to make happen if the citizens get loud enough. Problem is the "loopholes" are put in there for the congressmens rich friends .. . .