Sensible Tax Reform--Simple, Just and Effective
Background
Both his experience as a banker and consultant, as well as his academic work, convinced the author, Dr. Christopher Korth, that the American federal tax system is dysfunctional. Indeed, it is a disaster! While claiming to be a just and effective tax-collection system, the U.S. Government has in fact made our tax system not only unjust and very ineffective but very complicated:
The United States needs a new approach to federal taxation for the 21st Century! The new tax system needs to free American companies from the current high federal taxes that make it very difficult for them to compete against foreign companies. Our current tax system also encourages our largest companies, such as Apple, Pfizer and General Electric, to use accounting gimmicks to shift their profits abroad--and some companies to even move their headquarters abroad. Our existing federal tax system contributes to massive international trade deficits, huge foreign debt and millions of lost jobs.
This new tax system must be simple, replacing the 70,000+ page monstrosity that we now have and which no one truly understands. Above all, it must be just for all Americans, no matter how poor or wealthy. And, finally the new tax laws must greatly increase the effectiveness of the entire American economy.
Sensible Tax Reform--Simple, Just and Effective is a tax program which will replace the entire existing federal income-tax system with a federal consumption tax (FCT) for individuals supplemented by a simple-and-just income tax which will only apply to very high incomes. The FCT will be the core of the new tax system. The federal income tax on very-high incomes will help to maintain economic and social justice, as well as increase respect for our entire federal tax system.
Our current tax system allows sophisticated and influential taxpayers, both corporate and individual, to use tax loopholes such as deductions, exemptions, exclusions, credits, phase-ins, phase-outs and preferential tax rates to pay lower taxes than many others with similar or even lower incomes. Sensible Tax Reform--Simple, Just and Effective will level the tax playing field for both businesses and individuals. Everyone will be subject to the same rules, which will be simple, just and effective.
Christopher Korth can be reached at comments@sensibletaxreform.org or via the Contact page on this website.
