Bowles-Simpson plan.

[75th]

http://www.fiscalcommission.gov/sites/fiscalcommission.gov/files/documents/CoChair_Draft.pdf

IMO this is pretty much exactly what we need. Simplified tax code (that benefits the middle class the most), lowering of corporate rates while closing the various loopholes, and making some intelligent cuts on defense, SS, etc.

Discussify.

 

[binö]

this thread needs a soundtrack
brb


bam

 

[javaguru]

Income tax reform is pointless...within twenty years lobbyists and class warfare Dems would have it looking just like it does today. They simplified it under Reagan, cut rates massively, two brackets and the only deduction they kept was home interest and here we are.....

The way to reform tax policy is to repeal the Sixteenth Amendment and implement a form of flat tax.

 

[digimon7068]

Income tax reform is pointless...within twenty years lobbyists and class warfare Dems would have it looking just like it does today. They simplified it under Reagan, cut rates massively, two brackets and the only deduction they kept was home interest and here we are.....

The way to reform tax policy is to repeal the Sixteenth Amendment and implement a form of flat tax.

but, but, but...then i might actually get some sleep during tax season

 

[needtogetarmy]

http://www.fiscalcommission.gov/sites/fiscalcommission.gov/files/documents/CoChair_Draft.pdf

IMO this is pretty much exactly what we need. Simplified tax code (that benefits the middle class the most), lowering of corporate rates while closing the various loopholes, and making some intelligent cuts on defense, SS, etc.

Discussify.

No need to discuss. It is a good plan. To bad the politicians will not follow it.

IMO Obama could go down in history as an accomplished politician if he garnered support across both parties for this. He won't though.

 

[mrplunkey]

It's not a bad start. Cutting spending to 21% of GDP is still 11% too high IMO.

I still prefer a flat tax.

 

[needtogetarmy]

Tax policy needs to be pro GDP. A flat tax is not appropriate in every circumstance, although it is much better than the system we have today. I'd go for it.