I remember the table breaking in half when President Ronald Reagan had all the notebooks containing all the tax laws placed on it. Whether or not it had been weakened is beside the point. It broke because Congress passes laws with hundreds of exemptions every year. Reagan said he would cut taxes by a third, which he did and then had to raise them back up with more exemptions because of the cutting raised the National Debt, which he hated more.

            In the 1980s Representative Kemp tried to push through a universal 6% income tax. His plan sounded good but would not have balanced the budget while keeping most of the exemptions. I think a fair income tax would be 12% over $20,000 base for individuals and 20% for all others. Small business would probably claim individual with companies, corporations, estates, and other financial entities paying the 20% on profits. Social Security and Pensions totaling over $20,000 would be taxed when combined to total over the base. There would be no exemptions for age, children, marital status and real estate taxes. Congress can’t stop with just one one exception and once the door is open its a flood.

            The backlash from the accounting sector would be formidable since any individual could multiply the W-2 by 12% and see if money is to be paid or returned. Companies wouldn’t need thousands of CPAs and attorneys to find loopholes and exemptions. Think of more profit without them and a host of lobbyists figuring out how to bribe legislatures. People making hundreds of millions would pay 12% and corporations that have never paid anything would now pay 20% on their billions.

            Artificial intelligence would allow for more productive checking of all returns and with AI and simpler returns, the Treasury Department could reduce its employees by thousands.

            I would think the additional income would help to end the yearly additions to the National Debt if Congress was responsible with their hand-outs and waste.

            Think about it. Most individuals would need no more than a postcard to do their taxes and corporations would need a page or two. No hiding income by buying land and saying you are a farmer to pass money through the estate exemptions. Hundreds of thousands Professionals buy land so it would be passed on to their children tax free.

            What a dream because no Congress is ever going to give up all those campaign bribes and speaking engagements padding their personal accounts. Graft is a five letter word preventing the dream from happening.