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maxrecursion | 1 year ago

If they got rid of all the deductions and loopholes most people wouldn't need to file as the only thing they'd have to put on their taxes is their W2 income.

I believe the IRS is even informed of things like 401k disbursement and stock sales. Meaning most people wouldn't have to submit for those either.

The gains of simplify the tax code are gargantuan, but unfortunately, the wealthy and powerful organizations benefit from the current system, and would be hurt financially by simplifying it. So, it will never be simplified.

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janalsncm|1 year ago

Part of the problem is that the main way the government knows how to give people money is through tax deductions. It doesn’t have to be that way. Covid checks demonstrated that grants are possible. That in and of itself would simple things, since there would just be a list of things you can apply for.