Ideas for Improving America
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Tue Nov 20, 2012 10:42am

Each tax filer pays full income tax on their own income minus THEIR OWN single exemption. Period, no way to cheat there....

Everyone who makes INCOME must file taxes and gets their own exemption. No way to cheat there.

No way to "split" income EXISTS.... If YOU make income, you pay taxes on it minus YOUR exemption...

IF your 16yr old son gets a job and makes income HE pays taxes on it minus HIS exemption...

You have nothing to do with each other for tax purposes...

Why would YOU somehow get an exemption for someone else?

I can't claim YOU for an exemption, why should YOU get to claim somene else?

  • Here we disagree. I see it PER PERSON, not per taxpayer.David F Mayer, Mon Nov 19 10:38pm
    A family of 4 would have 4 personal exemptions, and so forth. Any deviation from this "per person" rule immediately makes possible various dodges to split income, etc. The thing I really like about... more
    • No.PureStevil, Tue Nov 20 11:27am
      Allowing deductions for children removes a portion of the financial responsibility of the decision to have a child. There are plenty of people on earth. If you want to add to that, then you and you... more
      • It cannot work that way.David F Mayer, Tue Nov 20 1:32pm
        This leads to income transference. Daddy puts income producing assets into name of minor, who thereby becomes a taxpayer and creates an exemption. Besides, we need to recognize that kids cost money.... more
        • Why would we allow you to "transfer" income?Sprout, Tue Nov 20 4:21pm
          Your income is your income, and you pay taxes on ALL of it... If you LATER give some of that money to your child, that is fine. Then the child has income and must pay income taxes on ALL he gets...
          • Hoist on my own petard. I yield.David F Mayer, Tue Nov 20 9:21pm
            You are correct. This would amount to a deduction. Opening the door for JUST ONE deduction, opens it for thousands. Thanks for pointing out my error. David F Mayer
    • Why? — Sprout, Tue Nov 20 10:42am
      • This is what happens. In order to add exemptions, the ownership of investment is distributed. Husband transfers stock to minor. Minor becomes a taxpayer and an exemption has been created. With tax... more
        • You miss my point....Sprout, Tue Nov 20 4:16pm
          If the father recieves INCOME, he pays taxes on it.... if he then PAYS his child with some of that POST-TAX income, that is then INCOME for the child and the child must file... If the family wants to ... more
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