A Tax Code Americans Can Believe In
"No taxes can be devised which are not more or less inconvenient and unpleasant." George Washington, 1796
There are very few occasions when I disagree with our first president. This, however, is one of them. While I agree that all taxes are "inconvenient and unpleasant," General Washington didn't live long enough to see the sorry state of our current tax code.
With over 55,000 pages and almost three million words, there is a lot room for confusion. That's part of the reason nearly 10 million individuals filed for an extensions last year and the average small business spent 37 hours doing their taxes.
I believe that we need a tax code that is simple, fair and promotes economic growth. Right now, our tax code does none of those things. We need fewer rules, loopholes and alternative minimums. And we shouldn't have different standards for different groups.
The best way to reform the tax code is not to nibble around the edges. We should rip up the old code and start over with a blank piece of paper. There are plenty of reasonable ideas on how to create a better code. Currently, there are bills in Congress for a Fair Tax and a Flat Tax. There are other ideas too that deserve a look.
What is clear is that almost no one thinks the code we have now makes sense. I believe we should get rid of the old one and create a new code that is simple, precise and makes sense. General Washington would expect no less.
Sincerely,
