by Christi Parsons
Of all the statistics Barack Obama is using to promote his "tax fairness policy," the one that seems most infomercial-ready is this: millions of Americans would be able to complete their tax returns "in less than five minutes."
The Democratic presidential candidate proposes a universal homeowners' tax credit for people who don't itemize their deductions, and says he'd work to do away with the income tax for seniors making less than $50,000 a year.
Things should get simpler for businesses, too. Obama says there ought to be fewer corporate loopholes for them to spend their time searching out.
One sign of the idea's potential appeal is that Democrat John Edwards proposed something similar last spring. He suggests a simplified tax form that people can simply sign and return -- no muss, no fuss, no fee to H&R Block.
Obama is taking his version on tour in New Hampshire this week, kicking it off with a roundtable discussion in Nashua this morning. So far, the target audience likes it, according to a testimonial offered up by the campaign in this morning's mail.
“It used to be that if you worked hard enough, you could always make ends meet,” said roundtable participant John Tourgee. “These days, it seems like you can't even find the string."
Now, if they could just get Kevin Trudeau to write a book about it.
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Comments
About time someone wanting to be president showed some creativity. I think, however the idea of cutting taxes for seniors making less than 50 grand needs some tweaking and at what age is someone a senior? 55? 60? 65?
Posted by: GW | October 22, 2007 12:31 PM
GW, what this article doesn't say is that Barack's 5-minute tax form consists of the IRS doing your taxes for you, sending you the form and then you sign it. Problem is, when folks call up the IRS for help, about 70 percent of the time the advice they get from the IRS is wrong. And then, the way it works, you are liable for the mistakes, even though the IRS was the one who originally made it.
It's a dumb idea from a dumb candidate.
Posted by: John D | October 22, 2007 1:16 PM
The Barack Obama five-minute tax return:
A. How much money did you make last year?
B. How much do you have left?
C. Send (B).
Posted by: Dave Brann | October 22, 2007 1:43 PM
GREAT IDEA!
Posted by: Prantha | October 22, 2007 2:00 PM
How about getting rid of income tax altogether and passing a national sales tax on nonessentials? You would capture taxes from illegal immigrants, drug dealers, etc. that currently pay none, get rid of the ridiculously complicated tax code, significantly reduce the bureaucratic lumbering dinosaur known as IRS, and relieve millions of Americans from the pain in the ass every April of filing tax returns. I think it would also fairly distribute the taxes among the citizens. If Donald Trump wants to buy a 10 million dollar yacht, more power to him, but the more expensive the item is, the more he will pay in taxes.
Posted by: Herbie H. | October 22, 2007 2:14 PM
I have a ways to save even those 5 minutes. Do like Obama did in the past and don't pay your taxes.
Posted by: Bruce | October 22, 2007 2:45 PM
Obama and Hillary both have very simple tax return strategies: Sign over all your
income to them and the government will take care of all your needs. In fact, 5 minutes is far too long; a simple signature will do. It worked in the Soviet Union, right?
Posted by: Kenisha | October 22, 2007 3:21 PM
Repealing the Clinton tax on seniors is a good idea but why should those who don't (yet?) own homes subsidise those in a higher tax bracket who do? Another idea not thought through.
Posted by: whatnow | October 22, 2007 4:28 PM
* * * * *
Posted by: Dave Brann | October 22, 2007 1:43 PM
Oh yeah? Well what about Hillary's two minute tax return?
A. Name & Address
B. Enter how much you made ________________.
C. Send it in.
Posted by: John W. | October 22, 2007 4:31 PM
I can't believe all these Republicans do not support the troops. Taxes fund our government, including the military, so if you're anti-taxes, you're anti-troops.
Posted by: Paul | October 22, 2007 5:02 PM
I believe a similar postcard size return was propsed by Steve Forbes over a decade ago. That was just right-wing nonsense, right?
BTW,
If you can't do a 1040EZ Form in 5 minutes, you are night one of the sharpest knives in the drawer.
Posted by: Terry | October 22, 2007 8:11 PM
You are NOT one of the sharpest knives in the drawer.
Posted by: Terry | October 22, 2007 10:14 PM
Leftist Obama has a fair tax idea all right he'll tax us to death and then, collect the death tax.
He'll ruin the American economy the Treasury is flooded by money from W's tax cuts. The cuts have reduced the deficit by a large percentage.
Nevermind this liberal wants to raise our taxes like all liberals by telling us it is fair. Forgetabout him. Jerry White, Springfield, IL
Posted by: Jerry White | October 23, 2007 10:35 AM
[quote]
GW, what this article doesn't say is that Barack's 5-minute tax form consists of the IRS doing your taxes for you, sending you the form and then you sign it. Problem is, when folks call up the IRS for help, about 70 percent of the time the advice they get from the IRS is wrong. And then, the way it works, you are liable for the mistakes, even though the IRS was the one who originally made it.
It's a dumb idea from a dumb candidate.
Posted by: John D | October 22, 2007 1:16 PM
[/quote]
Geographically Challenged Dumb Dumb Little Johnnie D, "the Joseph Stalin of Streamwood" - the IRS ALREADY DOES PEOPLE'S TAXES FOR THEM!
http://www.irs.gov/faqs/faq-kw89.html
"1.1 IRS Procedures: General Procedural Questions
Will IRS figure the amount of tax and credits for taxpayers?
If you choose, the IRS will figure your tax on Form 1040EZ (PDF), Form 1040A (PDF), or Form 1040 (PDF). Refer to Tax Topic 552, Tax and Credits Figured by IRS, for more information.
References:
* Form 1040 (PDF), U.S. Individual Income Tax Return
* Form 1040A (PDF), U.S. Individual Income Tax Return
* Form 1040EZ (PDF), U.S. Individual Income Tax Return for Single and Joint Filers with No Dependents
* Tax Topic 552, Tax and credits figured by the IRS
* Publication 967 , The IRS Will Figure Your Tax"
Someday you will learn to engage your brain instead of saying something wrong - but I don't expect to live that long to see that day arrive.
Posted by: BC | October 24, 2007 2:53 PM
After listening to the Obamas, their past and present pastor, and their congregation's anti-American screaming and gyrating about the lack of opportunities in America ... the Obamas sure did benefit financially from our American system.
They made MUCH more than the majority of Americans make ... white, or black. And, especially considering the fact that we paid Obama for voting 'present' during most of his time in the senate ... and, since he didn't vote once on the Afganistan committe he chaired.
Posted by: Howard | March 25, 2008 5:25 PM