Quote:
Originally Posted by tuccillo
No, 10%. BTW, I take the standard deduction, as do many people unless you have a mortgage. 90% of tax payers take the standard deduction.
|
10% is fine too. Make all the uber wealthy - that other 10% of taxpayers, take the standard deduction, and pay 10%.
Good luck convincing anyone to pass THAT through senate and congress though. The top 5% of wealth in this country itemize enough that their tax obligation is much less than 10%, and some of them pay nothing at all in taxes.
So sure - bring it on. 10% tax, with standard deduction ONLY, no more itemizing at all, for everyone.