Top 10 Reasons Why the System is
on the Verge of Self-Destruction
Within the next ten years the income tax system in the United States will be dismantled. A number of emerging new forces coupled with the universal dislike of the system will soon gain enough of a toehold to cause it to collapse. State income tax systems will be dismantled either shortly thereafter or at the same time. It is a system that has mushroomed out of control, and few will morn its parting.
The current tax system is deeply entrenched in our society. Many industries rely on tax filings for verification of income, statistical information, and research data. Social security is inextricably linked to income tax and state income tax systems are closely modeled after the national system.
The transition period will be difficult. Many will find themselves out of a job and the business world will be forced to rework their ways of doing business.
While a new tax system will need to simultaneously emerge in its wake, the exact form of the replacement system will depend on the political party in power at that time. Many new taxation models will emerge as the end of income tax becomes more certain. Here are the top ten reasons why the income tax system is on the verge of self-destruction, and possible trigger points which will force the change to happen.
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