Quote:
Originally Posted by Liberty";p="
It would seem to close all of the write-off loopholes, and would eliminate the need for an additional "minimum tax" to try to correct for errors in an overly complex tax system.
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But it will never fly for the same reason the minimum tax didn't. Those with real money (i.e. real power) will never allow it to happen. They gutted the Republican's Tax Reform Act of 1986 immediately, and within 5yrs it was essentially gone. The same lobbyists would do the same with any system where their principles were forced to pay more tax.
Regarding your post on the IRS's numbers are only part of the story, if you look at the actual percentage of gross income paid, the wealthiest tax payers and corporations are paying less than ever.
http://www.ctj.org/html/corp0302.htm
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