Quote:
Originally Posted by rubicon
........I don't believe we have to reinvent the tax system but we do have to make a number of adjustments that returns more money back in the pockets of people. I would say close the loopholes but in reality tax accounts/lawyers etc get paid good money to search out new ones...but we should try. But more importantly the president, really Congress should cut back big time on business regulations. The Sarbanes Oxley Act was an over reaction to Enron and is killing many businesses. The new Consumer Fraud Act (Dodd-Frank) is Sarbanes on steroids.
Unfortunately for voters all we ever get are promises. Its the one reason I favored the Tea Party movement..at least they....
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The statements in bold in the quote above illustrate why we should scrap and replace the tax code with a flat tax or other simple, transparent method. The current monstrosity is so complex and convoluted and BIG that nobody BUT the tax accountants and lawyers can even begin to understand and see where the loopholes are......the loopholes that favor the corporate criminals and scr** the average hourly or salaried taxpayer or small business owner who cannot pay to have teams of tax lawyers on retainer.