Return to simple method of taxation
The first income tax law was enacted in 1862 to support the Civil War. Taxes were collected at various rates, according to a person's income.
The system was very simple. People paid their taxes and there were no tax returns to file.
The income tax was eliminated in 1872 and revived in 1894 and in 1895 it was declared unconstitutional.
In 1913, the 16th Amendment gave Congress the authority to tax incomes. Taxes were again collected at the source of income and no tax returns had to be filed.
So why did Congress abandon this simple method of tax collecting and replace it with our present system of withholding taxes, which guesses at the amount of tax we have to pay, and then we are required to file a return and either pay more or receive a refund.
Let's put an end to the present tax code that has become so complicated that it requires a tax consultant to pay taxes.
Also, income should be defined as money received in wages, interest and dividends. Gains from gambling, whether in casinos or in the stock market, should not be taxed unless tax authorities subsidize a percentage of losses when they occur.
Let's revert to the simple method of taxing income that was in place prior to 1943, and make April 15 just another day, reducing the anxiety level of our taxpayers.
Chuck Coletta
Lombard
Lobbyists, utilities still have the power
SEQ CHAPTER \h \r 1Electric utilities have added billions of dollars to their income by selling electric power to each other at increased rates through a process called electric rate power auction.
Exelon and ComEd paid millions to their own lobby (for deceptive advertising) and to political campaign funds in order to have our state senators and congressmen and the Illinois Commerce Commission agree to the auction process, and then raised the rates to the extreme levels.
After the public screamed foul, we may see a temporary relief through giveback in a paltry amount that still allows the utilities to make additional billions (not millions) of dollars. The relief bill (negotiated by those who received funds from the lobby) has been forwarded to the governor for signature and also includes formation of a new agency called Illinois Power Agency which will oversee either the price or purchase of electricity for Illinois residents. The cost and scope of this agency has yet to be determined, but we know our legislators will demand that their appointees receive generous pay and benefits.
Ah yes, more clout for the politicians and more cost to taxpayers. ...
Isn't it amazing the Illinois Commerce Commission cannot do its job so a new agency is formed !
Now Gov. Blagojevich has advised he will take up to 60 days to review the new legislation and see if he can get a little more relief before he signs the bill into law. A 60-day time frame could void the negotiations of the bill forwarded to him and allow current rates to remain.
Are the legislators working for the lobbies or for their constituency? If they are working for their constituency they should start all over.
It seems as though honesty, integrity, and ethics have been buried in muck by our legislators and the utility CEOs in their stride for power and where greed is all important.
Tom Loversky
Wheaton