To: President Donald Trump, The United States House of Representatives, and The United States Senate
Simple Stepped Income Tax
Income Taxes should be graduated (none on the poorest, higher on the richest) but they should also be SIMPLE. Preparing a tax return steals time, and nothing is more precious than time. Overall tax revenue should be increased to reduce the deficit.
Why is this important?
I have been in the highest income bracket and I think the wealthy should indeed pay a larger share of taxes. However I have a problem with our absurd tax code, wasting everyone's time every year. My federal income tax return last year was almost an inch thick, cost me hundreds in accountant's fees, and took many hours of record keeping. Yet the government certainly had all the information already! Deductions should be eliminated: for example the mortgage interest deduction encourages people to stay in debt and favors the rich with bigger mortgages; better instead to have a lower tax rate than have to report mortgage interest every year.