Tag Archives: Income Tax
Why Income Tax Reform Is So Difficult
Ask yourself: Why can’t the income tax be made as simple and compliance easy as paying the federal motor-fuel tax? The motor-fuel tax does not require personal motorist tax returns to be filed to collect the tax, nor are there … Continue reading
An Enemy of Income Tax Reform: The “Business Transfer Tax” (a/k/a “Business Activity Tax” and “Business Flat Tax”)
The “Business-Transfer Tax” in all its forms is a proposal for a dual-tax system, to have a value-added tax built upon a rejiggered income tax. This second tax comes disguised as income-tax reform with the VAT label avoided. Sad to say this ill-conceived proposal amounts to a cover-up and remedy for the failure of U.S. trade negotiators to insist that VAT nations abide by the principles of free trade. But, two wrongs don’t make a right. As an enemy of real income-tax reform, it would make the income tax even more disjointed and difficult to unscramble into a simple, tax-neutral, low-rate income tax. Continue reading
A Mike Huckabee Presidency Revives Interest in the FairTax — But is it?
Proponents of the FairTax zealously claim it will abolish the IRS, creating a simpler system that is easier to comply with and less intrusive. But abolishing the IRS the FairTax way creates a whole new big bad monster – the Sales Tax Bureau (STB)! The headaches of the “income tax return” are merely being replaced with the headaches of the “family consumption allowance” application. Continue reading
