A fresh idea for tax reform

[Jack from Ohio]

"Here’s my proposal, which is based on the TV show Survivor: We put the entire Congress on an island. All the food on this island is locked inside a vault, which can be opened only by an ordinary American taxpayer named Bob. Every day, the congresspersons are given a section of the Tax Code, which they must rewrite so that Bob can understand it. If he can, he lets them eat that day; if he can’t, he doesn’t." --Dave Barry

Wish I could take credit for this, but I copied it.

[kcjenkins]

LOVE IT!!!!!!

[Terry O]

:spaz: :spaz: :spaz:

[taxxcpa]

A more likely plan: print all the money it takes to pay off the national debt.

[Catherine]

Definitely more likely to print more money -- it's the standard dodge of bankrupt governments. It is also the definition of inflation (or currency debasement) as well as a hidden tax whenever there are progressive brackets.

The nasty bit about inflating the money supply/debasing the currency is that hyper inflation can (and does!) kick in quickly and without warning.

[taxxcpa]

There was a song that had a line about "when soda pop was just a nickel," and Pepsi Cola used to advertize their 12 oz Pepsi as "twice as much for a nickel too." The current price of coca cola and pepsi cola is a good example of how we have cheapened the purchasing power of the dollar.

A barrel of oil was $3.00 for many years. Now it is $80 or more. Natural gas used to be 10¢ an MCF and there was no adjustment for higher or lower BTU content. A gallon of gasoline used to be 30¢.

Inflation really took off a little after the Secretary of the Treasury said we would never go off the gold standard--and we didn't for a month or two after he made that statement.