Question

Many of you are for a flat tax and others are against the flat tax. Selfishly, I am not a hater of the complicated tax code. As Scott mentioned, It provides job security for accountants. This should be a reason (for us) not to want a flat tax. Thousands of accountants would be out of their present job (not to mention majority of the IRS). Where would they go? The answer-to other accounting jobs (if they get so lucky). The flat tax would eliminate the need for accountants specializing in tax. Most of you are trying to be CPAs. Although you may not plan to do tax, many CPAs specialize in tax. In fact, tax work produces many accounting jobs. If there were a flat tax, a large percentage of these jobs would be gone. Those CPAs would need to branch into other areas of accounting. For job security, a little more complicated system is good for us. It will also hurt charities (which rely on donations by taxpayers trying to reduce taxes-would rather funds go to charity than government). What are your thoughts?

Answer 1

ACCORDING TO ME THERE IS NOTHING LIKE JOB THREAT OR ELIMINATION OF ACCOUNTANTS IF A FLAT RATE OF TAX WOULD BE INTRODUCED.BECAUSE EVEN A FLAT RATE OF TAX WOULD HAVE SOME KIND OF PROCEDURES AND RULES RELATED TO IT.FLAT RATE OF TAX DOESN'T MEANS A SIMPLIFIED AND EASY METHOD OF COLLECTING TAX..IT SIMPLY MEANS A FIXED PERCENTAGE SUBJECT TO COMPLIANCE WITH OTHER RULES AND NORMS OF TAX LAWS.

FURTHER EVEN A COMPLICATED TAX SYSTEM CAN BE UNDERSTOOD EASILY IN TODAY'S WORLD OF HI-FI TECHNOLOGY, IF ONE SPENDS IT'S OWN TIME AND MONEY.THEREFORE IT'S JUST THE TENDENCY OF SAVING OF TIME AND MONEY WHICH MAKES AN INDIVIDUAL TRANSFER SUCH WORKS TO ACCOUNTING PROFESSIONALS LIKE CPA'S.NO DOUBT PERFECTION IS ALSO ONE OF THE CRITERIA IN TRANSFERRING SUCH WORK.

THEREFORE PROFESSIONALS LIKE CPA'S SHOULD JUST FOCUS ON THEIR KNOWLEDGE PERFECTION AND QUALITY.BECAUSE THERE CAN BE NEVER JOB THREATS TO SUCH HIGHLY QUALIFIED PERSONS.AS THEY ARE THE ONES WHO ARE RESPONSIBLE FOR THE COUNTRY'S ECONOMY ADMINISTRATION.