why do people talk about racial and gender equality...

[Naer]

Wasn't there that whole "Occupy Wall Street" thing a while ago?

that was good. I remember that. Had some effect but didn't have enough

 

[berzerker60]

The problem is not so much the 'loopholes' as that the tax code is complicated as both parties continually inject pet projects and policies into it. Combine that with a complicated economy and you end up with situations like the CLT\'Jackie O' trusts situation. Couple historic low interest rates with superb market gains and you have unintended consequences run amok

It's not really that complicated, and it could be a LOT easier - it's 100% possible for the IRS to just do our taxes for us and send us a bill/refund check each year. The only reason that doesn't happen is the anti-tax lobby thinks if taxes aren't a huge burden, people won't be as anti-tax. Also, the TurboTax and tax prep industry lobby constantly to make things more difficult so they can cash in. Private profits, public costs, the American way!

 

[blastingcap]

exactly. There needs to be a overhaul of the tax code. close up all the bullshit. Since the highest tax rate is what? 39% fine. close up the BS so they pay that rate.

Also the really poor can make out pretty "well". Close up those bullshit items too. That's why i think a basic income (though with limits. you canb't just decide to not work if you can) with the first $25k not taxed would be good.

Though i'm sure there are reasons that won't work that i just dont know and i am missing.

The highest marginal tax rate in the US used to be like 91% during the 1950s. Did the country fall apart back then? Yet people scream bloody murder at 39% today. http://taxfoundation.org/sites/taxfoundation.org/files/docs/fed_individual_rate_history_adjusted.pdf