Sunday, September 11, 2011

A simple income tax

Tue Sep 6, 2011 9:29 am EDT


Since at least July 1, 1943, the day income tax withholding from paychecks began to finance war and tamp down demand for consumer goods, American politicians have promised a simpler tax system.

But while politicians talked on for seven decades, the code grew ever more complex with favors for this group or that, favors that mostly benefited the rich.


One country actually has created a very simple income tax. That would be China, its income tax filing rules modeled on those of the U.S. Congress circa 1913-1942.

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