Flat Tax

Today is the day we have to pay the tax man.  The annual shakedown.

With all the politicians starting to throw their hat in the ring for the White House, taxes are one of the subjects of their campaigns.  We hear about tax cuts and raising taxes for various reasons.  Then there are those that want to abolish the IRS.  There is also talk about a flat tax rate that's the same for everyone.

I don't understand how we can do away with the IRS, I haven't researched or even heard about what the alternative would be, so I can't comment about that.  I do know I don't want the taxes to be raised, at all.  

The Flat Tax for everyone is always an intriguing idea.  We never hear any real numbers on what the rate would be.  I recall something like 10% at one point.  One reason it sounds good is that it should make taxes much easier to file.  But this is the government we are talking about.  There is so much bureaucracy nothing is ever easy or simple.  My tax preparer has me convinced it is not such a good idea after all after showing me some numbers.  He is convinced that a 10% rate would hurt a lot of folks, they would be paying much more than they are now.  There are a lot of deductions that get that rate down.

We have been paying a good chunk for years now.  I can't imagine that going up even more due to a flat tax.  Of course this won't be true for everyone.  I just don't know enough about it to really understand it all with my weak mind.  It makes my head hurt.  Why did I even bring this up?  Sheesh.

Good luck and Happy Trails