Today is April 15th, Tax Day. By this deadline, all American taxpayers must complete and send their federal tax forms. As a dear friend of mine remarked on Jefferson’s birthday, “he would be horrified to learn that I’m spending his birthday doing my *FEDERAL* taxes!”
She’s right. He would be. Because it’s unacceptable that hard-working Americans who have to pay their state and local taxes and (in most states) complete their state and local tax forms, must also do this unnecessary, long, costly paperwork of figuring how much they owe the feds and complete their federal tax forms.
The federal tax code, measuring 66,000 pages, is an extremely complicated mess. It’s extremely expensive to comply with – for individuals and businesses alike. They, combined, spend $265 bn per year to just figure out how much they owe. That’s $265 bn per year that could be used for more productive purposes. That’s effectively a 22.2% tax surcharge on every tax dollar you pay.
For small businesses, the compliance cost of this huge, complex tax code is so high that it actually exceeds the cost of tax rates themselves. Every year they pay $3-4 just to comply with the federal tax code per every tax dollar they pay to the federal government. That is, the compliance costs of the federal tax code are, for small businesses, 3-4 times higher than federal tax rates!
America cannot afford this complex Marxist tax code any longer. And no, Chairman Ryan’s “tax reform proposal” (which is actually an old, rehashed RSC proposal which would create another complex Marxist tax code on top of the existing one) is not a serious proposal, not even at the first glance.
The ONLY way to solve this program is the FairTax, which would entirely abolish the current tax code and the IRS, and to repeal the 16th Amendment.