A lot of people have talked for years about changes needed to the Federal income tax system. Does it need to be changed, altered, replaced, done away with? If you had the power, what would you do? I prefer a flat tax rate above some appropriate floor below which income would be tax free - maybe somewhere around 30,000 to 50,000 depending on what the tax rate would be. Exemptions limited to home first mortgages and medical expenses and medical insurance premiums. If gross income is below the taxable floor, a Federal rebate equal to the tax rate would be refunded on medical expenses and medical insurance premiums. This doesn't eliminate the IRS, but a bunch of 'em are gonna lose their jobs. And a lot of tax attorneys will have to change their practices.
