The Federal Tax Code is a popular tool for members of Congress to bring in more spending money and repay obligations to special interests.
The 60, 044 page income tax code has been amended and patched so often that it is complex, convoluted, inefficient and unfair.
The tax code includes: depreciation schedules, multiple income tax brackets, complicated deduction rules and an Alternative Minimum Tax. It is so complex that the Internal Revenue, itself, has difficulties rendering opinions on certain of its provisions.
The income tax is unfair because of the double taxation of Estates, Social Security income and dividends.
It is undemocratic because it penalizes individuals for their financial prowess.
The tax treatment of the wealthy is analogous to making Tiger Woods play a longer golf course than the other competing golf professionals because of his superior skills.
The code is costly because of the time and expense required to fill out the complicated forms.
Finally, the Alternative Minimum Tax provision directed at wealthy individuals affects the middle class now because it wasn’t indexed for inflation; an example of the unintended consequences of Congressional micromanaging.
More: http://www.5th-flat.com/flat-article/the-fede.../
Posted by Tax Man on 1/22/10 12:42 PM
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