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Wanna make it even more efficient? Go to a 16% tax on all purchases (car, house, goods, services, etc.) and poof the IRS is gone (yay!) and tax evasion ends immediately. Doesn’t matter if you buy a cup of coffee or a $100M house, same rate for all transactions.
No reason to have tiers, deductions, loopholes, etc. And everyone pays in, not just the 45% who pay all the effective income tax!
Except then audits move to spending, both personal, and retail level. State retail sales tax audits are bad enough when it’s 3-4% importance. Federal audits at 16%-20% impact is scary. Imho, balanced tax streams are the way to go.
So – punish the working poor and slightly collect more from the rich?
I don’t who paid for this puff piece of news, but the article failed to mention the billions of dollars of unpaid taxes being left on the table as almost all of the audit activity of the 1% was dropped.
It’s just another Republican example of the little guy getting screwed while Trump hands out gifts to billionaires.
Again..the so-called “Dept. of Government Efficiency” was not a legally established arm of the federal government. Anyone (including the IBJ) who continues to refer to it without the “so-called” caveat gives it a legitimacy it does not deserve.