It’s time for Congress to modify our complex, 70,000+ page tax code.
For many Americans, each tax season begins with gathering W-2s and selecting a tax software program. While these programs are a godsend, selecting and accurately reporting the correct information is still a chore and the only alternative is to hire an accountant.
Why is the U.S. tax code so complicated? Cronyism for one. Special interest groups have become expert at carving out provisions where only they benefit.
Farm subsidies allow some farmers to have an advantage over other farmers, some corporations have more capital to invest than others, and citizens who can afford expensive electric cars receive tax breaks.
We need tax reform that simplifies the current tax code. Our high corporate tax rate incentivizes companies to relocate outside the United States.
Think about it. If you live in a high tax state and are offered a job in a state with lower taxes, would you not consider moving? In this way, corporations act like citizens.
The more reasons we’re given to move, the more likely we will move. By lowering the corporate tax rate, we encourage investment and spur competition. It’s competition for talent that increases wages.
Now is the time for Congress to act on tax reform. We need a simpler and fairer tax system that helps families, encourages corporate investment and spurs economic growth. That’s what working Americans voted for in the last election.
It’s time for Congress to deliver.
Ron Gilley
Hesperus
