Comment Re: Republicans are deranged about the IRS (Score 1) 136
Alas it's never that simple. Here's a basic question: What is income?
Sure, wages, salary, and dividends are income. What about an asset that increases in value? If you say yes you have to pay for an assessment of all your assets every year. Or let's assume you say it's not income until you sell it and get a "capital gain".
Now, if you take out a loan is that income? If you say yes then you pay huge tax when you buy a house or car with a loan. (You wanted simple and no exceptions!) Suppose you say no, it's not income.
Now wealthy people have large assets that gain value over time without being taxed. They can take out a loan every year against a portion of those assets without being taxed. The assets gain value fast enough that each new loan can pay off the old loan and still provide significant annual income that's not taxed. Wealthy people actually do this now!
Now can you figure a simple way to fix this?