Mood: accident prone
Topic: "Danger,Will Robinson"(8)
Frodo does not like to admit mistakes. Easier it is to rant against those who are used to making errors, winning the acquiescence of friends and neighbors who have also been put upon, or think they have, by unseen yet powerful forces. In the subject diatribe that follows, note that the villain is the most villainous of all villains, and empathize with friend Frodo.
Less than a fortnight ago, the Hobbit filed his Federal Income Tax Return for the year just past. But a few days later, he received correspondence from the Villains, suggesting that dauntless Frodo had nelected to include important information on his Federal Income Tax Return for the year before the year just past. After reviewing the correspondence, which is virtually illegible, Frodo noted that he had, indeed, omitted said data. His analysis reflected the fact that the financial reports he had been used to receiving had been changed by the financial institution who had acquired his long-time (now defunct) bank. The information was there all right, it just happened to be in a place Frodo did not, by habit, expect.
Worse yet is the fact that Frodo had repeated the error on the return just filed.
Frodo is not very happy with Wells Fargo. They are also villains who changed the reports in the first place. Somebody should have alerted Frodo to the change, rather than anticipate that he would expend precious time in reading the revised instructions. Frodo is obviously also not pleased with the Internal Revenue Service for the arduoius process which took a full year for them to notify him of their concern. Not to mention that he now has to read all this legalese, and to make proper adjustments on his most recent tax return.
Frodo has long argued with those who advocate things called "fair" or "flat" income taxes, questioning their motivations, since nearly all point out that they pay too much, and "others" pay too little. True it is that less than half of all of us pay any income tax at all, but whose fault, asks Frodo, is that? Perhaps the answer is the gentleman who made a name for himself haranguing the world with the rejoinder that "Rent is too damn high."
Frodo's suggestion is simple enough. Set a common rate for all income tax filers, including the "corporate" whom Willard Mitt among others avers as "people." That rate should be 22.5% for everyone, excluding the bottom one-third of all those with income of any kind. For the record, both Willard Mitt and President Obama would've reported significantly higher tax bills under the "Frodo Plan" at 22.5%. The bottom one-third will still pay taxes, just not those taxes which are based entirely on income (i.e., sales, excise, employment taxes would stiil be charged). There would also be no withholding on earned income for those in the bottom one-third.
Too bad it is that such a good concept is identified as what it is, written in sand.