Federal Income Tax in the United States is Unfair
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Federal Income Tax in the United States is Unfair
You go to college to get an education, to get a good paying job, and to better yourself in your career. You work hard for promotions, to make more money, only to find that the more money you make, the higher percentage of federal income taxes you have to pay. The current method of collecting Federal Income Taxes should be revised to make it fair for all Americans.
As we enter the new millennium our tax system remains complex and unfair. I recently interviewed Richard Semon, an Independent Certified Financial Planner and prior CPA now working out of his office in the Washington DC area, concerning tax planning. He does a lot of work for people who work at General Dynamics, especially tax planning. He said, "The average American does not understand our tax system, and many cannot even fill out the simplest tax forms. Even some sophisticated investors do not understand how the tax code affects their investments." There was also a brief story on CNBC the next morning where they stated that this year 58 percent of Americans would seek the advice of a Tax Consultant to fill out their income tax returns because they have become too complicated. That percentage is up from the 56 percent last year...