[01] Simplify the U.S. tax system by consolidating all forms of taxation such as sales tax, property tax, income tax, state & federal taxes etc. into a single tax system such as a fixed percentage income tax that does not permit exemptions, loopholes, or tax credits.
[02] Require all Americans to have the paycheck from their employer direct deposited to their bank account so that taxes can be deducted more efficiently and minimize the possibility of tax evasion.
[03] Spouses should not be able to file jointly, rather they should be required to file as individuals and no tax credit should be granted for having dependents.
[04] Eliminate corporate taxes for American owned companies so that businesses can do what they do best, employing Americans and so that the corporate tax can be prevented from being passed on by the businesses to the consumer of their products. If this is implemented, then businesses should also be prohibited from lobbying congress, donating to political campaigns, endorsing candidates, etc.
[05] Citizens who have worked a certain number of years and are now retired should be exempt from all taxation even if the retired individual chooses to continue working during their retirement. They have paid their fair share of taxes and should not be required to pay taxes on that income. This would help elderly individuals who are forced to return to work due to financial issues and help them to provide for themselves without having that money taxed by the government.
[06] Eliminate all tax exemptions to include tax deferred 401ks/retirement accounts. All 401ks or retirement accounts should be treated as Roth accounts and consequently no taxes should be imposed on funds passed on via inheritance/estate as the taxes would have already been deducted during the original owner’s lifetime.
[07] Taxes should not be imposed on interest earned from stock trading and other forms of wealth generation. A person should only be taxed based on the income with their current employer.
Simplify tax code with common sense approach such as; stop taxing income two or three times over. We are taxed when we get paid, there shouldn’t be another tax at the end of the year on what has already been taxed. Retirees and people making under $X low income shouldn’t pay any taxes.
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