Eliminate the IRS and implement The Fair Tax.
Institute congressional term limits and eliminate lifetime retirement. Congress shouldn't get anything that isn't available to the public for who they serve.
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What specifically do you like about the Fair Tax?
I admit, it's been a while since I read the Fair Tax book (and it may have changed), but I was VERY disappointed with the kick-backs (something called pre-bates???) that were given to cover some minimum cost of living. What in the hell is wrong with a pure consumption tax (National Sales Tax, zero business tax) with zero kick-backs? Yeah, a bit regressive, but that should be incentive to make more money so just living isn't all you can afford to do; AND, the more you make, the more tax you pay as a part of living a great life.
I do like the Fair Tax better than this joke the Republicans are pushing through currently, so I wish they wouldn't have squandered this opportunity (once in a generation) to overhaul the federal revenue system.
@Doug hit on the pension issue. It's far and above what they earned.
As far as the "Joke the Republicans are pushing through". The entire tax code is a joke which was perpetrated by both dems and repubs since 1942. If someone was to start fresh with a tax code to a country, who would invent something as ridiculous as the US tax code?
Something like the Fair Tax makes the US a tax haven for corporations. It also allows companies to focus on their businesses instead of their tax position. Corporations spend billions trying to save billions in taxes. Hell, even in IT when I do my budget, I have to make decisions on what technologies to use based on Captial Expenses vs. Operating Expenses.
Under the Fair Tax, everyone pays taxes. Rich, middle, poor, drug dealers, criminals, visitors to the US. Everyone. The "pre-bates" are to help the poor offset paying the tax because they don't make enough money to pay taxes.
A simple tax code will NEVER exist whether it's the Fair Tax, flat tax, etc. Why? Congress will never let go of their most powerful power of the people. Eliminate the IRS - power gone. Also the entire tax industry would be gone which means there are a lot of people that have to learn new skills.
Not saying the Fair Tax is the answer but it's lightyears ahead of what we have today.