Expatriate Owl

A politically-incorrect perspective that does not necessarily tow the party line, on various matters including but not limited to taxation, academia, government and religion.

Wednesday, December 20, 2006

Don't shred Form 1040 yet!

Congressman Steve King of Iowa has introduced H.R. 6367, which would abolish the Internal Revenue Code. While this initially feels very good, all of the "feel good" feeling wears off when one reads that the Code's replacement is little more than a lick and a promise, a "to be decided."

Good as it feels, I'm calling this one as a non-starter. It would have a far better chance if it actually replaced the current IRC with something else, like a national sales tax (which I support), or an excise tax on trans fats (which I don't), or some other actual tax scheme.

You can stay tuned if you wish, but I don't expect to hear much more from our congresscritters on this one.

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