New Tax Structure to Give Incentives to Businesses to Hire US Workers

Written: 21-Sep-11 By: Matthew F.

The US tax structure should be simplified dramatically. All revenue recognition should remain the same for individuals and businesses. The deductions should ALL be eliminated except as follows. For individuals, a fixed amount per person and dependents should be subtracted from the "income" identified. For businesses, a fixed amount for each equivalent full time employee working in the United States should be subtracted from the business profit reported. Then a fixed percentage tax should be applied to the remaining income or profit. The tax rate should not be adjusted based on income, age or any other factor except the number of dependents or US employees as discussed above.

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