This is why I think the focus should be on converting withholding into a payroll tax.
You people have lost your minds. Seriously.
We’ve spent the last eight years, all during the Obama administration, hearing about how the rich aren’t paying their “fair share”. Finally, somebody comes along and figures out a way to get rid of the two biggest loopholes that prevent the rich from paying their fair share, and all of a sudden the Democrats sound like Ayn Rand.
Payroll tax? A regressive, flat, payroll tax? Are you shitting me? Not only are you searching for ways for the rich to keep the loopholes that help them pay for those mansions and limos, but you want to screw the lower and working class to do it?
Thankfully, the IRS will see though every one of these schemes, and if you pass anything, will publish guidance making it clear that if anyone tries to do a Wesley Snipes and claim that their taxes are anything other than what they are, there’s a nice warm prison cell waiting for them.
There is exactly ONE SOLUTION that will pass Constitutional muster available to you. CUT YOUR TOP MARGINAL INCOME TAX RATES to give your poor, suffering rich guys their money back.