Simplify Your Taxes!
Support Proposed Form "540-Simple"
If your income is no more than $50,000 single or $100,000 married filing jointly and consists only of wages, interest, dividends, IRA distributions, or pensions, you would have the option of filing your taxes on a simple one-page tax form. Gone will be today's 63 pages of unintelligible instructions. There will be no need to keep financial records for California state income tax purposes; W2 and 1099 Federal Forms are all you will need. The Standard deduction would be raised to $7020 for single filers and $14,040 for married couples.
It's as easy as one, two, three!
1. Add up how much money you earned
2. Subtract the standard deduction
3. Multiply the adjusted amount by 0.025
Let's put this option on the California Ballot!