WRITTEN PROPOSAL ON HOW TO CHANGE THE IRS and TAX LAWS SO THEY ARE MORE EFFECTIVE and cover deficit.
BY Cheryl E. (Angel Cher_)Thursday, January 26, 2012
The term write-off describes a reduction in recognized value. In accounting terminology, it refers to recognition of the reduced or zero value of an asset.
Q.. what can replace a reduction in recognized value and the recognition of the reduced or zero value of an asset.
-A replacement would be WHAT///?? CONSIDERING THE WIDE RANGE OF REDUCING A VALUE OF AN ASSET OR recognized VALUE:
INDIVIDUAL INCOME TAX
1. We present all of our income initially
2. we THEN claim deductions for expenses paid out of it, losses, and bills etc.
"hmmm how bout if we standardly deduct period, present it, pay it at appropriate percentages and do away with all the red tape, skimming and cheating and if we cheat any further its on our own self's since we cannot claim anything more than a percentage!"
top most common deductions:
#1. we know property tax
#2. school and other employee taxes
#3. House sales/loans/depreciation/capital-gains
#4. Business write-offs (class by themselves.)
#5. Debts and Loans- mortgages/schooling
(answer dont take out loans (haha, fasicous)
#6 excise tax, should not EVEN exist.
CORPORATE TAX AND THIER WRITE-OFFS
EMPLOYMENT TAX AND THIER WRITE-OFFS
Lets take the top most common tax deductions:
so how to change reporting: to make it easier-
all values reported are on the whole, write-offs are written on the reduced value or zero value of the whole reported.
base taxes only on: the whole
Problem#1 is that big corps and millionaires can claim many many write-offs reducing all income or gain to next to zero- now they owe nothing to the IRS
Middle class get homestead rebates, credits, write-offs, dependants etc on the whole and now they owe nothing to the IRS and made a couple hundred return on payment sent forth to IRS.
So the IRS doesnt collect nothing on a $30,000.00 salary per yr OR on a $300,000.00 to plus over millions in an income per year.
SO now even though it looks like they are collecting a whole lot like trillions, they are not even collecting as much as if they even charged 10% per person per income rich or poor straight up with no deductions and no rebates allowed.
goes without saying they should automatically configure the homeowners property taxes, that should be a standard.
sure they need to know all particulars of house and value and taxes, loans, gifts, capital gains etc..
"Why Not start paying 30% to Tax (all Americans rich or poor) allow a cap up to 10% in write-offs (or a sliding scale based on income from 5%-10% period.
~ and Mr. IRS make your job easier :) ... close eyes and mouth to further inquiry - who cares what they are = (Dont ask- Dont-tell policy) and revenue would still be ahead of the game, People should not acquire loans or losses over 10% in a year- If they do they are risking to much loss they are not going to be able to claim. OR they are not going to be able to PAY Off... Stay within the budget- learn to budget! can people take craZy advantage of it... yes, yes ...but only If they wish to be responsible for it. It will be on them and not a loss to Taxable Revenue"
income tax returns alone (source IRS.gov2009) 144,103,375 x 20% = 30,000,000.
ONE BILLION IS 1,000,000,000- according to the tax stats 2009
THERE WAS OVER 18,000,000 MILLION RETURNS BETWEEN $50 AND $70TH income according to IRS 2009
while there were all income categories lets go with this one
they collected 1.600,000,000. trillion after losses and write-offs/claims.
Census: There are 312,936,858 (313million) approx in the USA
there was only 140,494,127 M tax returns. (thats difference is the real amount of poor and children, elderly)
ALL RETURNS collected 140,494,127M and there was 7.6 trillion adjusted gross income less deficit, Salary and wages returns 116,668,680 and amount was 5.7Trillion
ABOUT 50% are individual income tax returns
forget 2009 for a moment and go to 2007 fiscal year.
since it is simple even though the enclosed number for 2009 on every income level is provided from IRS.Gov
SKIP to>>> wikipedia:
Fiscal yr 2007 total returns BEFORE REFUNDS
NUMBER OF RETURNS GROSS COLLECTIONS TO nearest MILLION US$
50% is individual tax returns, others are
corporate income tax
yet the United States Treasury is owed $354 billion more than the amount the IRS collects
IN 2009 THERE WAS 81 MILLION TAXABLE RETURNS AND 58 MILLION NON TAXABLE RETURNS
so lets use those numbers here, 40th must have been gift, excise, and estate tax and the sort.
so they collected about 2.9billion that year.
Is it not possible to make tax more easier and more efficient with less paperwork, employees, etc and still manage to satisfy the deficit?
possibly... If they can make the whole taxation process limited and easier.
but for that we need to know the numbers on how many people had so many deductions and paid nearly nothing in taxes and how that effects the climbing deficit.
and how many had so many rebates, credits, capital gains, and deferred tax, generation skipping tax etc.
and then see what would happen if they taxed everyone at 30% of their income and allowed them 5% on people under $50,000. in income and 10% of that for over $50,000. in capped deductions allowable period.
run those numbers against all income levels, all returns collected and the whole amount collected based on Information for a given year and forensic evaluation of the above conditions of deductions/writeoffs Vs. rebates/refunds
and see if they replaced all that info with a more simplified application if it would bring in more revenue and what that revenue could cover now if so.
they need to simplify this for the sake of lowering spending especially within the IRS itself.
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