A New Idea For The American Tax Code Essay

The main topic of this research paper is taxation. Seeing that this topic is pretty open, I’ve chosen to write about the proposed idea of Fair Tax. Along with a little bit of insight on Fair Tax and a couple highlights of history, I’ll try and explain some pros and cons as well as give my opinion on the topic. According to vocabulary.com “Taxation refers to the practice of a government collecting money from its citizens to pay for public services”. Our country was practically founded because

Tax Reform: A Quintessential Recalibration In a world filled with economic turmoil, one might look at a loaf of bread today at the grocery store and wonder if it will cost the same tomorrow. The inflation factor has driven prices of food, energy and many other life essentials to an all-time high. In countries like America where the national debt has soared into the double digit trillions. It becomes a question in the minds of many, “how will we ever pay this money back?” This is a question of great

Life would be so much simpler if taxes were a flat percentage for all income levels, with maybe a few exceptions for the lowest income levels. A flat tax system is a very simplified version of our current progressive tax system. One with no itemized deductions or credits, and increased personal-exemption amounts. To increase savings and investments, the following types of income would be taxed at reduced rates, by allowing a 50% deduction, qualified interest and dividend income, long-term capital

There is an ominous shadow hanging over the American people threatening to consume our freedoms, wealth, and the very sanity that holds our nation together. America is a nation born from revolution against unjust taxation from a government that does not hear the voice of those who pay the taxes. Today this nation is threatened by the same oppression that incited a revolution and gave birth to one of the greatest democracies in history of the world. The accumulated debt of America and its people

Every 4 years, a new president is elected. Many highly respect individuals hold competition for this career, presenting their ideas and beliefs for the American people to support or refute. The United States current president, Barack Obama, is ending is 2nd term in office. This starts the debate and discussion of who will take his place as president. Currently, there is an enormous selection of individuals who people believe to be qualified for the position. However, the American people believe there

Flat Tax Our current income tax system today is very complex, unfair, inhibits saving, investment and job creation, imposes a heavy burden on families, and weakens the integrity of the democratic process. It can't be fixed and must be replaced. The U.S. income tax code is a long and complex system. The income tax system is so complex; the IRS publishes 480 tax forms and 280 forms to explain the 480 forms. The IRS sends out eight billion pages of forms and instructions each year. The

Finally, Marco Rubio’s tax plan may not be the best one, but it is better than our current one because it cleans up the holes in the corporate tax. There is a lot of good stuff in his proposal, entitled the “Economic Growth and Family Fairness Tax Reform Plan.”(Judis). In his plan, it is suppose to clear up loopholes in the collective tax code, cut the federal corporate tax rate, move to a territorial tax system and erase taxes on capital growth and dividends, among other things. On the individual

The tax policy in the United States is very confusing. When the tax policy was originally written in 1913 it was four hundred pages. Now, over the past ninety one years, that tax policy has evolved to over 72,000 pages. Since the tax code has become so lengthy and nearly impossible to understand, the topic of tax reform has been in the minds of many. Although, most barely think about tax reform until tax season. It is a controversial subject due to the impact a change in tax code would have on the

Flat Tax Reform: A Call to Action “I love paying my income tax! This tax system is so easy to understand!” said no United States citizen, ever. No one has ever said this because it is highly unlikely that no one actually enjoys struggling with the complexity of the current income tax system in the United States. The concept of contributing to the good of the community, county, state, and nation through taxation is not new, nor is it generally opposed by American citizens. Most tax paying citizens

Blake Farenthold, as you are aware a tax reform bill is expected to go to the floor for a vote. The President as recently drafted a new bill that is supposed to be helpful to Americans. He claims three things with this bill to raise wages and bring jobs home, bring fair taxes for hardworking Americans “The unified framework will cut taxes and put in place a fair tax code for American workers” (Whitehouse.gov), and to create easy taxas for hardworking Americans “The unified framework will make taxes