Our screwy tax system
Acknowledging I have ranted about our federal income tax system on more than a few occasions, I hope this doesn't sound like just more of the same. Anyways, I was doing our 2006 taxes last night and came across a couple more examples of congresscritters using our horrendous tax system to hand out goodies or attempt to modify behavior. There are several things I could point at, but the real jewel that prompted me to write this is a credit titled:
Sec. 1400C. First-time homebuyer credit for District of ColumbiaWhat!? Why have a different tax code for one city? It is federal taxes not DC local taxes. If home prices in DC are too high let the market correct the situation through the power of supply and demand. When we first made the mistake of creating an income tax it was solely for the purpose of raising money to operate the federal government. Since then congress has added millions of modifications to benefit one group after another. Final result is a monstrosity that only benefits lawyers and professional tax preparers.
Talk to your family, friends, and neighbors about the need to throw out our current tax system and institute a flat tax or a national sales tax.
Labels: Tax code