“In this world nothing can be said to be certain, except
death and taxes”
Benjamin Franklin
I, like many other good citizens from this great country of
ours, left it to the very last moment to mail off this
year’s tax return. As I entered the local post office and
saw the long line, I once again promised myself that next
year would be different. I really would make the effort to
get them off before the last minute rush.
As I moved slowly towards the front of the line, I began
wondering, in this day and age is this really the best
system our great and wonderful leaders can come up with.
After all, we now live in a world that allows a satellite
miles above us to read a number plate. We can get the
worldwide web on our cell phone, download TV programs that
we may have missed or just want to save onto our iPods.
The original tax laws introduced in 1913 were a very simple
affair. They began with tax brackets ranging from 1 to 7
percent - a far cry from today’s levels. The IRS tax
codes, regulations and guidelines now have well over 9
million words. No wonder there's so much confusion. Is there
truly anyone who really understands this monster. Let’s
put this into some form of prospective. The Declaration of
Independence has a little more than 1300 words. The
Constitution which has served us well for more than 200
years comes in around 5000 words and the Holy Bible makes do
with less than 800,000 words.
The Office of Management & Budget estimated in 2004 that
we as a nation spent over $200 billion on compliance cost.
At a time when the nations manufacturing industries, the
foundation of any good economy, are all struggling against
cheaper imports, shouldn’t our leaders be using that money
to create “Jobs” for their citizens. Most experts agree
that $200 billion would create well over 3 million jobs,
which of course creates sales of consumable goods which
creates more jobs and sales taxes.
From the moment we wake up in the morning we are being hit
by taxes. Everyone is at it -- turn on the light
(electricity taxes), run the shower (utility taxes) and my
personal favorite the telephone taxes, all 6 million of
them, or that's what it seems to me every time I receive a
telephone bill.
Has the time come for a simple Flat Rate Tax, something we
can ALL understand. There are many countries all over the
world who have used this simple to understand and cost
effective way of collecting taxes to revitalize their
economies. Let's just imagine for a moment what it would be
like if we could complete our tax returns on one simple
piece of paper. A Flat Rate Tax for individuals and a Flat
Rate Tax for businesses. The same rules apply to all
regardless of size of income. We all pay the same rate. Most
of the successful countries have levied Flat Rate Taxes of
less than 17%, with a stating level that protects the lower
income groups. Could life ever be that simple again? Would
our Leaders really want us to understand what they were up
to? And then there's those lobbyist. Oh well, it was nice
while it lasted.
Have an opinion or a question you would like me to answer,
then write me!
http://www.CarlHampton.com
“Your” Money Matters By Carl Hampton
From the Author of “
From
Credit Despair To Credit Millionaire”
