Tax Day
So let’s just exempt the bottom 60% from paying federal taxes. It might actually be in the interest of the top 40% earners…
Finally, given all the work that goes into tracking 60% of Americans that provide just 14% of the tax revenue, one wonders if the economy as a whole might actually come out with a net benefit due to lower paperwork and tracking costs. The government could surely slash its 100,000+ army of IRS employees as a start, and Americans wouldn’t have to hire one million accountants. Sounds like a win-win for all. Except bureaucrats and accountants.
Interesting thought. But the last statement is the most critical one in the story. The author also fails to mention that the government makes out on withholdings even from people who eventually get a refund as they are able to use the “free” money for a year while you wait on the refund.
