| There are two main obstacles to this idea. It would add greatly to the unemployment. Eliminating the IRS and other jobs that are in the tax business would not be a popular idea. Second issue is the countless lobbyists that have created our 60,000 page tax code. Do you think that the Democrats will support the elimination of earned income credits or child tax credits? Charities and mortgage companies get special deductions. Businesses will not support the loss of available business tax credits. Many other special interests would loose their special treatment.
This is an idea much like the flat tax that has been around for many years. There are too many groups to appease to make this a reality. Does anyone think that this might be political reason for bringing this old idea up now? |