Instant Tax Reform

11 Responses to “Instant Tax Reform”

1. Sean Braisted writes
   February 12th, 2009 9:03 am

   The tax code isn’t all that complicated unless you try to get all the deductions possible. So, the end result would likely be simply that they pay more in taxes.

2. SayUncle writes
   February 12th, 2009 9:12 am

   ‘The tax code isn’t all that complicated unless you try to get all the deductions possible.’

   Yeah, those 6.6 billion hours spent per year on them are because math is hard. And the $194 billion per year in compliance costs is because it’s not all that complicated. And the 117 million times per year that IRS is contacted for answers is not due to complexities in the code. And that code consisting of 693 sections of the Internal Revenue Code that are applicable to individual taxpayers, 1,501 sections applicable to businesses, and 445 sections applicable to tax-exempt organizations, employee plans, and governments. And the Treasury Department had issued almost 20,000 pages of regulations containing over 8 million words.

   But, no, it’s not all that complicated.

3. SayUncle » Not that complicated writes
   February 12th, 2009 9:17 am

   [...] comments at AC’s, Sean Braisted says: The tax code isn

4. Joe writes
   February 12th, 2009 10:00 am

   Sean, please tell me that was sarcasm.

5. Madrocketscientist writes
   February 12th, 2009 10:01 am

   The tax code is easy, as long as all you need to fill out is the 1040EZ. If you own a house, it starts getting trickier. Have investments or retirement savings, there is a bit more complexity. Did you have to tap some of your retirement savings to make ends meet in this economy? Well, that’ll add a bit more to the mix. Own a business, even a little one? You might need to hire a tax preparer.

   Taxes are Easy if you own no real property and the only savings or investments you have is your savings account and some CDs.

6. Sean Braisted writes
   February 12th, 2009 10:12 am

   Madrocket,

   It gets more complicated the more sources of revenue you have…no doubt, obviously one source of income makes things easier. All the same, everything you mentioned is pretty easy with the latest tax software, and if you make over $50K per year, you might have to pay 24.95 for it…ouch!

7. SayUncle writes
   February 12th, 2009 10:14 am

   ‘if you make over $50K per year, you might have to pay 24.95 for it…ouch!’

   Worked so well for Geithner!

8. Bob K writes
   February 12th, 2009 10:50 am

   Someone should save this post.

   And then some day years from now when Sean is all grown up, has kids in college, owns his own home, has some investments set aside for his retirement, and maybe even a small business on the side, make him read the inane drivel he wrote back when he was young and had all the easy answers.

9. DADvocate writes
   February 12th, 2009 11:02 am

   The tax code isn’t all that complicated unless…

   Understatement of the year. That’s a BIG “unless.” I don’t bother with medical and charitable deductions because it’s too much of a hassle.

10. Sean Braisted writes
    February 12th, 2009 11:02 am

    Oh, Bob…life is so hard, I don’t know how you bare it. Well, I may not be as old as you, but my Father is older, owns a home, had kids in school, and didn’t complain about the crushing complexities of the tax code.

11. She Who Shall Not Be Named writes
    February 12th, 2009 11:36 am

    Well, my Daddy is older than yours, Sean, but he’s also dead. He did have to get help, though, not because of the complications of the forms but because he couldn’t remember what he was doing.

    This is a very funny series.