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Cool story bro. You are just too awesome for this topic.
Damned skippy.
I use every loophole in the tax code to my advantage. Lessens the amount I pay, actually my tax credits zero out my tax liability so I essentially pay no income tax.
I use every loophole in the tax code to my advantage. Lessens the amount I pay, actually my tax credits zero out my tax liability so I essentially pay no income tax.
So, you don't want a simple tax that keeps people from using special loopholes?
"Simple" is sometimes used as an antonym for "intelligent".
For one thing, your simple plan completely ignores that people on the low end of the scale need to spend a much larger percentage of their income to simply stay alive. For another, you're assuming that the words "you made" have a simple definition. They do not.
"I made 11 million dollars? You're quite mistaken. I made $110.72. Oh, yes - the company in the Caymans that happens to own the house that I rent at $2.31 per month, and the Bentley that they generously let me borrow - that company made $11,231,368.38, but they only pay me this pathetic pittance. Shocking. Now obviously, it would be quite improper for you to poke around in the Cayman tax authorities' business, sir. Are we done here?"
So, you don't want a simple tax that keeps people from using special loopholes?
What is a loophole?
I have write offs for my expenses, that is not a loophole.
Back on topic, how does the government know how much I will make, and what my expenses will be?
If the government will just put the same numbers in that were used last year, why can't taxpayer just do that? What is the point of this program?
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