2005-10-22

Quotes From Notable CPA's

Here are some quotes from some top CPA's in America on how they would fix our tax system. These quotes come from: www.webcpa.com/article.cfm?articleid=16010

"The income tax system should be essentially a flat tax on gross income, with the exception of allowable deductions for charitable donations, and state and local income tax. As the government moves away from directly helping the poor, and funding public television and the arts, a deduction for charitable donations would encourage individuals to fund the gap created by less government spending in these areas. A deduction for state and local income taxes is also essential to ease the burden for individuals living in high tax states, such as New York, Massachusetts and California.

"A flat tax system is beneficial because of its simplicity. Simplicity hopefully allows for greater compliance from individuals and corporations. But, most importantly, simplicity allows for utilizing greater resources for enforcement and collection and less for implementation and interpretation of the tax laws."

-- Melvyn Weiss, Senior Partner, Milberg Weiss Bershad & Schulman


"The tax code must not tax non-individuals, because any tax a business must pay is passed on to the final consumer of the goods or services in the form of higher prices. Business decisions to produce and deliver goods and services should not be influenced by the tax code, but by economics."

-- Carol Markman, President, National Conference of CPA Practitioners

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