Fixing Our Outdated Tax SystemPosted by Randy | June 07, 2011
The current American tax system was developed nearly a century ago at a time when the economy was largely based on agriculture, manufacturing, and local commerce. With the onset of the information technology age, American businesses, families, and organizations have changed while the tax code has remained the same. As a result, the American tax system has grown increasingly inefficient, outdated, unfair, and complex.
· Cosponsoring the Tax Code Termination Act (H.R. 462), which would replace the old tax system no later than July 4, 2015. This new system would seek to apply a low rate to all Americans, provide tax relief for working Americans, protect the rights of taxpayers and reduce tax collection abuses, eliminate the bias against savings and investment, promote economic growth and job creation, and get rid of penalties facing those married or with children;
Weigh in. Do you support these efforts that will create jobs and lessen the complexity of the American tax system?
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