I Hate the US IncomeTax System

I finished my taxes at 2am this morning.

I hate the system.

Its not just that different rules seem to apply to elites getting high government office, the system itself wasteful in operation, and has been twisted to support the legal graft done by elites and lawmakers.

The US needs a better system.

I wrote once:

There are two big reasons for Tax Reform:

1. Reduce Compliance costs (leads to less disruption in economic decisions, increased economic growth rate)
2. Reduce Power of Special Interests (which disrupt the economy and political process)

I still roughly think like this:

I don’t like paying taxes on wasteful things and bloated bureaucracies, but I don’t mind paying them for efficient government activities. That being said, the tax system is too complex, costs too much and has too many bad incentives and loopholes. I favor switching to a flat tax system for individuals based on either income or consumption. I favor switching to a flat tax of cash flow system for C-style Corporations (if we are still going to tax C Corps, that is). This can be revenue neutral, but will have the positive effects of costing less in compliance and regulation, and will reduce the distortion of economic activity.

Read more here.

Yes,that is my voice. Ladies, trust me…I sound like Frank Sinatra in the shower.

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2 Responses

  1. Sure, I can totally tell the Sinatra voice. Rrriiigghht. I’ll give you this: you do have those baby blues!

  2. You’ll just have to test this yourself sometime…:-)

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