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Quick-Hit: The Tax Man Cometh

May 21, 2010 Leave a comment

Today, we learn that Democrats slipped in a stealth provision in the ObamaCare bill that creates mountains of paperwork and new rules for individuals and businesses by expanding the use of 1099 forms.  This covers even Paypal and credit card transactions now – so, get ready to have yet more forms and hassles at tax time.

America could save billions upon billions by getting rid of all these forms and applying a flat tax to everyone, or eliminate the income tax and go to a national sales tax.  The IRS alone consumes billions just to run it the way our tax schemes run now.

Personally, I favor a flat income tax with certain personal exemptions plus a minimum 2% income tax paid by everyone for the first $35k to $50k per year, then a few exemptions for healthcare and interest payments paid on the primary residence, for instance.

See you on the battlefield.

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