Stop losing sleep over your tax situation. I'm Darrin Mish \u2014 a tax attorney in Tampa who's spent 32 years handling exactly this kind of problem. Here's what you need to know.<\/p>\n
According to truthinmedia.com<\/a>, Rand Paul has announced that he will soon release a plan to repeal the entire I.R.S. Code and replace it with a 14.5% flat tax.<\/p>\n According to the report, Paul says that the current U.S. income tax is a an “economic drag” that reduces productivity and destroys jobs.<\/span> He also states that the payroll tax is used by the I.R.S. to harass people who have political views that it doesn’t agree with.<\/a> In addition, he claims that the payroll tax is unfair because it takes away the wages of workers before they even see them.<\/p>\n The report also states that Paul wants to cut taxes<\/a> by more than $2 trillion and eliminate “gift and estate taxes, telephone taxes, and all duties and tariffs. According to Paul, this will motivate employers to hire more workers and will “raise after-tax income by at least 15% over 10 years”.<\/p>\n According to the report, an outline of the plan was released in the Wall Street Journal, but a more detailed explanation of the plan has not yet been released. According to Reason.com, however, Paul has stated that the plan will retain the popular home mortgage and charity deductions<\/a> that are included in the current income tax but that no other deductions will be allowed.<\/p>\n