Summary

Original source:
http://news-register.net/edit/story/0221202005_edt02.asp

Details

• As we begin the tax return season, millions of middle-class Americans will discover, to their shock, that an unpredictable, especially punitive parallel tax system stands alongside the ordinary income tax.
• Many of them will be ensnared by the Alternative Minimum Tax, which was designed originally to snag very wealthy individuals whose only sin was to make full use of available tax deductions.
• Many hours and a lot of money will be spent on preparing tax returns.
• Couldn't there be a simpler, fairer way?
• That's the idea proposed by economist Steve Moore, president of the Free Enterprise Fund.
• And rather than even attempt to mesh with the current crazy quilt of tax rules and laws, Moore suggests setting up the flat tax as an option.
• Taxpayers could choose whichever system is to their best advantage: The traditional income tax and all of its deductions, exclusions and special credits; the Alternative Minimum Tax; or a 20 percent flat tax.
• Moore, who details his plan in a provocative Wall Street Journal essay, would attach just two catches to his plan: All new workers would be enrolled in the 20 percent flat tax; and, second, once a taxpayer has chosen the flat tax he can't switch back to one of the other systems.
• Therefore, the huge mass of IRS tax rules and regulations eventually would sunset.
• If Congress and the Bush administration are serious about pursuing a broad rewrite of the tax code, then Moore's plan is a good place to start.

Related Articles

Popular Topics: Flat tax, Income tax, Alternative minimum tax, Diabetes, Breast cancer, Prostate cancer, Heart disease, Depression, High cholesterol, Osteoporosis, Vaccines, Autism, ADHD, Infertility, Weight loss, Cancer, Alzheimer's, Trans fats, Acrylamides, Fluoride, Mercury	Take Action: Support NaturalNews.com Email this article to a friend Share this article on: NewsVine | digg | del.icio.us Permalink to this article: http://www.NaturalNews.com/009230.html Reprinting this article: Non-commercial OK, cite NaturalNews.com with clickable link. <a href = "http://www.NaturalNews.com/009230.html">Flat tax option may be the key to a simplified tax system</a>
Receive our Natural Health Newsletter for FREE Subscribe now (it's free!) to win. We randomly choose a subscriber each month to send $100 in eco-home products or a RealGoods.com gift certificate (our choice). Plus, you'll receive FREE news, articles and action alerts from NaturalNews.com editors and join over 800,000 monthly readers who report extraordinary health improvements after becoming a subscriber! Receive breaking news alerts on natural health solutions, renewable energy, the environment, global warming and more. Receive a free instant download of our $29 Secret Sources guide that reveals top sources for little-known health and diet solutions.	Your Email Address: Free Subscription Code: Enter the numbers you see: 100% free of charge. Unsubscribe anytime. Absolutely no spam. We respect your email privacy.
Recommended Special Report: Seven Words that can Change the World by Joseph R. Simonetta Read this special report now... "Seven Words That Can Change the World reveals the astonishing, simple truths that have the power to forever transform our world for the better while freeing our minds from the enslavement of limiting beliefs. This is not a text for the simple-minded; it is a guiding philosophy for the mindful, intelligent few who are wise enough to seek out -- and recognize -- the higher simplicities of truly purposeful living." - Mike Adams, the Health Ranger, editor of NaturalNews.com	More on NaturalNews.com: • Streaming Health Ranger Videos • CounterThink Cartoons • FREE Special Reports • Podcasts