It’s that time of year again, when yours portly yells impotently at the clouds and demands the end of the income tax.  Unlike prior years, yours portly actually got his taxes done relatively early (if you count early March as “relatively early”), and while I owed both Uncle Sam and the Great State of South Carolina a pound of flesh, I ended up getting away with only paying $54 total—woooooot!

Still, the annual ritual of telling the federal government how many miles I drove to music lessons and what I paid for WordPress is an odious and obnoxious reminder that the federal government dominates our lives and our personal information.  I recognize that taxes are a necessary evil, but let’s focus on the “evil” part of that equation.

I don’t know what the solution is, and I think the Republican Party has spent far too much time quibbling over the placement of commas in the tax code instead of fighting the necessary cultural battles in our nation, but tax reform should be a no-brainer.  Here’s the Portly Proposal:

• Tax all income at 10%
• Don’t tax interest earnings in savings accounts

That’s it!  Easy.  Cheap.  Everyone pays the same percentage.  Maybe—maybe!—have a carveout for people who earn, say, less than $20,000 a year—they pay, say, 5%, or even just 1%.  If people want to withhold from their paycheck, fine.  But there are no surprises—if you earn $2000 in March, you withhold $200.  At filing time, all that would be done is confirming you’ve paid your amount; if you overpaid on that first $20,000, then you’d get a refund.

Even that is more involved than I’d like, but it gives a bit of relief to the working poor.  Otherwise, no deductions, no carveouts, nothing.  There’s still an incentive to save, since no one pays for interest earned on savings accounts.

Yeah, yeah—you want to write off your $300,000 mortgage.  No.  Sorry—let’s not incentivize people to borrow huge amounts of money so they can save forty bucks on their taxes.

With that, here is 13 April 2023’s “TBT^16: End the Income Tax“:

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