Will 15% be enough?

Currently about 48% of Americans pay $0 in taxes. If we eliminate loop holes and deductions, then if a take a little from a lot, it will end up being more then if we take a lot from little. If you want to think about it the actual tax the government will collect from individuals is 10%. The other 5% will be for a forced individual retirement fund. This will eventually replace social security. The money in these accounts will grow on a tax free basis, and when withdrawn will also be tax free. Because these are individual accounts they are inheritable, if the individual passes away before all of the money is used.

Comments

So true. Honesty and everyhtnig recognized.

If you have a child during 2009 than yes you will get a tax break when you file taxes next year. For ciahdclre you can receive some of that back but its a really high amount that you have to qualify. Also, if you have any medical expenses you have to pay for yourself than thats a tax deduction also.

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