Comments on: Watching the Income Tax System Implode

By: Hellen Barrientes

Hellen Barrientes — Tue, 03 May 2011 10:56:29 +0000

I would love to see the income tax system blow up, but seriously doubt it will happen in our lifetime. Perhaps you need to include a “how to” section for those of us who want to be proactive.

By: admin

admin — Fri, 14 Jan 2011 14:19:23 +0000

Yes, that may be possible, and I like where you’re going with this. But our current state of complexity will essentially have to collapse in order to even make a seemingly minor shift like that. Too many loopholes would go away, and too many tax burdens would shift. Having the tax system collapse will not be a bad thing. Nor will it be all that disruptive. But it will cause an explosion of effort to happen all at one, with lots of press, lots of scrutiny, and a very attentive public watching and voicing their opinions every step of the way. If you thing the healthcare bill was messy, that will be like a silent movie in comparison to this showdown.

By: Tiffanie Chipps

Tiffanie Chipps — Fri, 14 Jan 2011 10:35:59 +0000

The tax code does seems to be getting more and more complicated with no end in sight. I agree that this cannot continue. But isn’t it possible for technology to mask much of the complexity, maybe by asking each person a series of ten multiple choice questions, and based on those answers, plus a few income numbers numbers, automatically generate the tax filings through what appears to be a much simpler process on the surface?

By: Dale B. Halling

Dale B. Halling — Mon, 05 Apr 2010 16:22:03 +0000

Excellent points Tom. An excessively large administrative at the federal level is not limited to the tax system. The new health care adds to this burden.

By: Tax Guy

Tax Guy — Mon, 23 Nov 2009 03:48:44 +0000

I’ve been active in taxes for longer then I care to admit, both on the individualized side (all my working life-time!!) and from a legal viewpoint since satisfying the bar and pursuing tax law. I’ve rendered a lot of advice and redressed a lot of wrongs, and I must say that what you’ve put up makes utter sense. Please carry on the good work – the more individuals know the better they’ll be armed to handle with the tax man, and that’s what it’s all about.

By: Boot Gordon

Boot Gordon — Fri, 03 Apr 2009 00:57:27 +0000

How about Bucky Fuller’s statement that everyone on earth
is a billionaire and doesn’t know it because of our bureaucracy, etc.?

By: Peter Crouse

Peter Crouse — Thu, 02 Apr 2009 04:59:08 +0000

Tom,
Black Swan is an excellent book. The tax code is an excellent farce.
Pete