One person's tax reform is another person's tax inadequacy.
That being written, let me state some things that I believe should be written in any new tax code.
No taxes on mutual funds until the share holder sells it. (Treat mutual funds like IRAS).
No taxes on any home that is sold that the owner lived in, (even if it's a vacation home that the tax payer only used for 30 days out of the year), for two or more years.
No taxes on a antique vehicle that the owner used for primary transportation.
(1) It hardly seems fair for a small investor to foot the tax bill for a billion dollar corporation, and taxing the dividends and selling of assets would also hurt the small investor by reducing the value of the fund.
(2) Why tax a person selling of a home for profit when as far as I know you don't credit a loss when selling a home.
(3) If you by a vehicle that you use for primary transportation why should you be taxed for selling it for more then you paid when you can't take depreciation on the vehicle nor can you take a deduction if you sell for less then you paid.
* I don't own any mutual funds.
I don't own a home that I can sell for a profit.
I don't own a vehicle that I can sell for more then I paid for.
I do believe in fairness.
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