This is the first I have heard about this. Just from reading Novak's column it seems very intrigueing and looks like something good to me. I'll definitely have to keep a close on eye on this to see how it progresses and what it actually means.
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Conservative Republicans have been back on their heels all year while the majority Democrats in Congress offered liberal initiatives. But this week, reform-minded conservatives intend to introduce the most far-reaching tax plan since Jack Kemp's three decades ago. It would establish a radically simplified, flatter tax for an estimated 90 to 95 percent of income-tax filers.
Those taxpayers presumably would accept this offer: Give up all your current deductions, and your annual earnings up to $100,000 would be taxed at 10 percent, with a 25 percent rate on everything above that. But that is not all. The bill would repeal the hated alternative minimum tax (AMT), erasing $840 billion in revenue over the next 10 years. Government would have to get leaner.
From what I read you would be able to stay with the current tax system or go with this new one. So if the new one would cost you money then you just stay with the old and if the new one would save you money then.........
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Nature does nothing uselessly.
- Aristotle -
I've never understood what was so terribly wrong with simply taxing 10% of everyone's gross with zero exemptions and then adjusting the amount of goobermint spending to live within that amount. It's simple to understand, easy to administrate, would make the IRS obsolete, and is probably why it will never happen.
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Kevin Haendiges
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Kemp's plan flopped 20 years ago and will flop again. These guys are totally incapable ofdeveloping something new. They always have to fall back to something that failed before. Thenthey wonder why they lost the House and Senate. Where is the Republican partythat was capable of innovative thought?
Kemp's plan flopped 20 years ago and will flop again. These guys are totally incapable ofdeveloping something new. They always have to fall back to something that failed before. Thenthey wonder why they lost the House and Senate. Where is the Republican partythat was capable of innovative thought?
And, just to keep this in perspective, the other side is even less capable of developing something new and is even less competent and less innovative (except when it comes to finding new ways to buy future voters and reach deeper into the pockets of working Americans so as to redistribute wealth to slackers - THAT, they're pretty good at).
'And, just to keep this in perspective, the other side is even less capable of developing something new and is even less competent and less innovative (except when it comes to finding new ways to buy future voters and reach deeper into the pockets of working Americans so as to redistribute wealth to slackers - THAT, they're pretty good at).'
Personally, i think that both sides are equally incompetent.
For the GOP, a Daring Tax Choice
