Cohn Says Americans Should Be Able to do Their Own Taxes

The video discusses simplifying the tax filing process by eliminating itemized deductions, aiming for a 'postcard' tax return. It highlights the historical complexity of tax deductions and the goal of making tax filing easier for individuals. The video also defines the middle class as those earning between $60,000 and $160,000, acknowledging the variability in living standards across different regions.

What is the main goal of simplifying tax reports to a 'postcard' format?

• To increase government revenue

• To eliminate the need for tax preparers and software

• To make tax filing more complex

• To increase the number of deductions available

Why were unique deductions historically created in the tax system?

• To reduce government spending

• To gain votes from certain House or Senate members

• To increase tax revenue

• To simplify the tax code

What is the proposed method to simplify the tax return process?

• Increase the number of itemized deductions

• Remove all deductions and use a flat tax rate

• Use a standard deduction and calculate tax on taxable income

• Introduce more tax brackets

How is the middle class defined in terms of income?

• People earning between $20,000 and $50,000

• People earning between $60,000 and $160,000

• People earning between $100,000 and $200,000

• People earning between $150,000 and $250,000

What factor complicates the definition of the middle class in the United States?

• The complexity of tax forms

• The number of deductions available

• The varying cost of living across states and counties

• The number of tax brackets