Striper Talk Striped Bass Fishing, Surfcasting, Boating - View Single Post

JohnnyD · 11-10-2010, 02:58 PM

Debt commission puts out preliminary proposals - Nov. 10, 2010

I'm sure the actual amounts saved is a load of crap, but a couple items stuck me as interesting...

"Set targets for revenue and spending: The report caps taxes at 21% of gross domestic product. It would limit federal spending initially to 22% of the economy and eventually to 21%."

and...

"Reform tax code: The report would lower income tax rates and simplify the tax code. It would also abolish the Alternative Minimum Tax and and reduce tax breaks."

The latter is one that I've mentioned a few times on here "simplify the tax code". A hope (and I'm sure a far fetched one) is that they simplify the way people pay taxes, get rid of some of the more easily abused tax deductions and eliminate that ridiculous Alternative Minimum. An ideal world would be a nice flat tax, but that'll never occur.

Making it easier for people to pay their taxes should, in theory, make it easier for tax collection. My hope is that more clarity will reduce the need for as many audits and reduce the cost per case that comes with them, thus resulting in fewer IRS agents to be on the government dime.

These appear on the surface like obtainable goals. The only thing missing is a referencing money wasted on unnecessary and overly-exploited social services.
-----------------------

I know a constructive discussion about the above is impossible and it will quickly tailspin into a thread about the ridiculous spending, Obama's a socialist and whatnot as every other thread spirals into, but it's worth a try.

11-10-2010, 02:58 PM	#1
JohnnyD Registered User iTrader: (0) Join Date: May 2008 Location: Mansfield, MA Posts: 5,238	Preliminary Proposal by Debt Commission Debt commission puts out preliminary proposals - Nov. 10, 2010 I'm sure the actual amounts saved is a load of crap, but a couple items stuck me as interesting... "Set targets for revenue and spending: The report caps taxes at 21% of gross domestic product. It would limit federal spending initially to 22% of the economy and eventually to 21%." and... "Reform tax code: The report would lower income tax rates and simplify the tax code. It would also abolish the Alternative Minimum Tax and and reduce tax breaks." The latter is one that I've mentioned a few times on here "simplify the tax code". A hope (and I'm sure a far fetched one) is that they simplify the way people pay taxes, get rid of some of the more easily abused tax deductions and eliminate that ridiculous Alternative Minimum. An ideal world would be a nice flat tax, but that'll never occur. Making it easier for people to pay their taxes should, in theory, make it easier for tax collection. My hope is that more clarity will reduce the need for as many audits and reduce the cost per case that comes with them, thus resulting in fewer IRS agents to be on the government dime. These appear on the surface like obtainable goals. The only thing missing is a referencing money wasted on unnecessary and overly-exploited social services. ----------------------- I know a constructive discussion about the above is impossible and it will quickly tailspin into a thread about the ridiculous spending, Obama's a socialist and whatnot as every other thread spirals into, but it's worth a try.