We have regressive taxes on jobs, called payroll taxes, which are paid by both the employer and the employee. Want less of something, tax it more – we have a 15.3 percent tax on jobs. It’s no wonder the number of jobs in the U.S. has decreased.
Tax lobbyists in Washington, D.C, outnumber elected officials by 32-to-1. The tax code is used by politicians, lobbyists and special interests to their advantage to gain tax breaks, reward their friends and campaign supporters, punish their opponents and fund their pet projects.
As a nation we spend $450 billion per year to comply with income taxes. The IRS budget is $13 billion and it has 110,000 employees. An IRS study found code complexities alone lead to 16 percent noncompliance.
The underground economy, estimated to be $1 trillion to $1.5 trillion, goes untaxed. This makes no sense at all!
The present tax code punishes good behavior with taxes on incomes, savings and investments and rewards bad behavior with tax deductions for debt.
We need real, true tax reform that complies with the principles of tax reform as developed by the American Institute of CPAs. The principles for tax reform call for a tax code that is fair, simple and transparent, supports economic growth and collects the same total revenues as the current tax system. Our present tax code violates the first four of these principles.
There is a solution, found and created after years of research and study from $22 million in private funds. The solution takes power from politicians, lobbyists and special interest groups and probably will not be embraced by many of them.
Don’t let the professional politicians and the lobbyists further divide Americans along political lines. The non-partisan nature of the solution should unify all Americans, regardless of political party affiliation. All will benefit from it and therefore should readily support its adoption.