Over Half Year Doing Taxes For The Government

Times Publisher
August 3, 2017

It took over half this year to complete our taxes. The taxes were complicated by the fact that we own a business, we have rental property, and we also do the taxes for our wife’s estate.
Many people have businesses and do their own family taxes, so that is not uncommon. We also have to hire a tax accountant to compile the information and prepare it before e-filing it to the IRS. Our cost for that work is over $3,000 a year.
Then we pay whatever tax our tax accountant determines is necessary. We do not complain about how much we have to pay in taxes, although we feel the capital gains tax is a detriment to growth, and it keeps people from spending money on business development.
Our complaint is with the amount of time and effort it takes for us to file all the data which will be required for next year’s taxes, and to provide that data in an organized manner for our tax accountant.
Why not have a simple flat tax? The government has talked about it for years, but is no closer to a solution.
Everyone agrees that tax reform is necessary. Everyone agrees that tax laws are full of loopholes, which benefit those who are rich enough to hire tax accounts to take advantage of such loopholes.
Wouldn’t a flat tax eliminate all of that? Everyone simply pays a flat rate for everything which is purchased; as simple as that.
If you are a rich person and you want to live high on the hog, then you pay more taxes. If you are poor and can not afford expensive things, then you pay less taxes.
Just think of all the costs which would be saved. The number of people working for the IRS could be cut in half. Tax accountants would have to look for other jobs.
Many countries are already using a form of flat tax. In Europe they call it the VAT for value added tax. In Mexico they have an across the board tax of 16 percent.
Our present corporate tax is so high it chases businesses to foreign countries. Not only does the United States not get the corporate tax from these corporations but it also loses the jobs which go with them. Instead, Congress should give corporations a special allowance to bring the billions of dollars kept out of our country and allow this money to be put to work rebuilding this nation.
Someone needs to figure out what this country could do with a flat tax of 16 percent. Half to be used for state and local needs and the other half to run the federal government. No loopholes!
While Congress debates tax reform this summer, let them think about total tax overhaul.
The flat tax would do that.

Call (209) 383-0433
or (209) 358-5311

© 2017 Merced County Times. All Rights Reserved. Powered by  Imedia West