Sunday, January 7, 2007

A Tax form for the Politically Correct*

Our system is no longer just about raising taxes for needed services. It's about controlling how we live and extracting taxes when we don't behave properly.Why doesn't the government have another tax return called a 1040PC. Only socially responsible items may be used and a slightly higher marginal rate will apply. For instance a married couple (however you define it) may only claim 1.4 dependents.

A surtax would be added if the family has more than one vehicle and their commute is more than three miles.
An additional surtax would apply if you drive a gas-guzzling SUV
There would be a phase-out of itemized deductions based on the number of cigarettes you smoke and the number of martinis you drink.
Donations to Politically Correct political campaigns would be a full credit against your taxes.
There would be a 10% penalty if you did not file electronically. The IRS says it is the wave of the future.
Interest paid on margin debt incurred to buy stock in socially responsible corporations would be allowed as a tax credit.

I got this idea from “ Veritas” who frequently posts on The Tax Book message board.

If anyone can think of any further way to make our tax system more politically correct, please make your comment.

LINKS and Other IRS References and Resources


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This information is not intended to be advice to the recipient. In compliance with Treasury Department Circular 230, unless stated to the contrary, any Federal Tax advice contained in this Blog was not intended or written to be used and cannot be used for the purposes of avoiding penalties.

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