Simplify Tax Policy

[Mike1985]

In concert with a balanced budget and debt reduction requirement , change the tax code to a fixed rate ( say10%) and remove all deductions and adjustments to income, except for a single deduction equal to the poverty rate determined by the size of the household of the filer. This would apply to citizens and corporations. This would remove 99+% of the tax code and all the special carveouts for the rich and influential. And give some skin in the game. No games with deferred income, carry forward of losses, different rates for different types of income ( looking at all you financial dudes), etc. This results in a simple, transparent and more fair system and reduces a ton of IRS bureaucracy and cost.