The counter argument to your proposal (and I'm not saying that I disagree with your proposal) is that deductions allow for encouraging behaviors which are considered socially worthwhile. So, to take two examples, there is the mortgage interest deduction which is supposed to encourage home ownership for individuals and there is the research and development tax credit for businesses which is supposed to encourage investment in R&D that will help future competitiveness.
Cheers, Judah On Wed, Mar 7, 2012 at 11:32 AM, Scott Stroz <[email protected]> wrote: > > OK..I can see it now. > > FWIW - My thought has been for a while that we rework the tax code so > that there are no deductions...at all..none. > > Its simple...how much money did you make, regardless of where it came > from, from January 1 to Dec 31? Ok, you owe us this much. > > Of, course, there would be a progressive scale there as well. > > That would likely put a lot of people out of business, though. > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:348182 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
