Jordan Bush
Professor Howard
English 101
07 November 2015
U.S. Tax Reform We have all heard the quote by Benjamin Franklin, “The only thing certain is death and taxes.” We find this to be true the older we get and feel the pain of money being taken from our paychecks, and having to file income taxes yearly. There are many taxes we are subject to, but when most people complain about taxes they are referring to federal income tax. There has been debate for decades about the current system but there has been no agreement on how to fix it. The United States currently has a progressive tax code which means people pay taxes according to their earnings. Our current system is very complex with a lot of loopholes. An alternative needs to be considered where everyone is taxed…show more content… A flat tax should be implemented where everyone pays the same amount of taxes regardless of their income. A wealthy person and a low-income person would pay the same percentage of income taxes. For example, suppose a state imposed a flat tax rate of 15% on income. A person who earns $20,000/year would pay $3000 in taxes while a person who earns $400,00/yr would pay $60,000 in taxes. They are paying the same rate, according to their income. If people have to pay less taxes, they would be able to save some of their income.
A flat tax system is less complex, and would make the entire tax process easier. People would save a lot of time and money on filing taxes. There would be no tax brackets and complicated forms. Hiring tax professionals would not be needed, since all people would have to do is report their income. Less micromanagement by the IRS would be needed. The IRS would not have to keep track of multiple rates, incomes, and payments. THere would be less deductions, credits, exemptions, or loopholes that might allow cheating of the system. In fact, The size of the IRS would be decreased or maybe even eliminated. People could not avoid income
