Windstar Publishing News
Tax Veteran Proposes 'Common Sense' Approach for Fixing America's Ailing Tax System
NORWOOD, Mass.,
A Simple More Efficient Tax Collection System for America by Paula N. Singer, Esq., an attorney with tax compliance and software experience spanning three decades, outlines a plan to fix our ailing federal tax collection system. (Price:
"This election year brings many proposals on how to change the tax system in America," Singer said. "However, fixing the tax system isn't something easy and must be well thought out because of interdependencies built into our current tax systems."
"Federal tax reformers focus on economics, fairness, and equity, but generally ignore the ripple effect their proposals may have on these other tax systems that will negatively impact America's taxpayers." Singer continued. "The book focuses on the tax collection process and the interdependence of tax systems — federal, state, local, and international."
Among her suggestions are: — Create a mix of taxes — consumption taxes, corporate income taxes, personal income taxes, and payroll taxes — all at relatively low rates, to provide less incentive for tax evasion and, therefore, less enforcement — Introduce a credit-invoice VAT (a value-added tax — the type of consumption tax chosen by over 130 countries) allowing for border adjustment of taxes — taxing imports but not exports — Eliminate the double-taxation of profits by taxing distributed profits once, at the individual level when dividends are paid (a Bush I proposal), thereby reducing the number of flow-through entities — S Corps, partnerships, and LLCs taxed as partnerships — that impose their complexities as well as multi-state tax return filing obligations on their owners (according to Congressional Research Services net business income received by unincorporated businesses has increased since 1980 from 21% to 60%) — Prune the preferences and encourage savings by allowing individual taxpayers to exclude $1,000 of unearned income (a $200 exclusion was eliminated from our tax system decades ago)
The birth of her granddaughters inspired Singer to write the book, "I have dedicated this book to my granddaughters. I believe that their opportunities for success and a decent life in America will be determined in large measure by the tax reforms that need to be made."
Purchase the paperback book at shopping.windstar.com or amazon.com.
SOURCE Windstar Publishing
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