Congressman Randy Forbes | Capitol Monitor
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March 12, 2012 Twitter Facebook YouTube Digg RSS
Taxes in America: A Background & Issue Primer
“Am I taking advantage of the right deductions?”

“Am I paying too much in taxes?”

“Do secretaries really pay a higher percentage of their income in taxes than millionaires?”

“What are loopholes and how are corporations able to get away with them?”

“Will new policy changes in Washington make my business taxes go up?”


These are just a few questions that ring through the ears of Americans when they think of our federal tax system. Few of us hear the word “taxes” without automatically thinking of complexity, confusion, and frustration. Our federal tax code is a vast system of numbers, equations, deductions, credits, loopholes, forms, and publications. Beyond the federal tax code itself, there are complicated policy issues regarding taxes that need to be addressed.

I have put together this background and issue primer on taxes in America to help break down our current federal tax code and shed light on some current issues surrounding our tax system. This document does not touch on every complexity of our tax system; there are volumes of works published with the purpose of providing detailed explanations of any one of the topics addressed in this primer. However, it is my hope that this background and issue primer will provide helpful information and begin a discussion about taxes in America.

In this document, you will find:

AN OVERVIEW of the FEDERAL TAX CODE
STATE and LOCAL TAXES EXPLAINED
FEDERAL TAXES in PERSPECTIVE
WHERE I STAND
LEGISLATION I SUPPORT
RECOMMENDED READING

Download the pdf version here or view the primer online by clicking the image below:




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Americans Have a Right to Know
The House Armed Services Readiness Subcommittee, which I chair, held a hearing to examine the implications of two more rounds of the Base Realignment and Closure (BRAC) process, which was proposed in the President’s Fiscal Year 2013 budget and is expected to be formally requested by the Administration this week.

Dr. Dorothy Robyn, the Deputy Undersecretary of Defense for Installations and Environment, said, “Strategic and fiscal imperatives leave the department no alternative — we must close and realign military bases here in the United States.”

However, the administration has made these plans without providing any estimates of cost savings or other necessary details. Especially in light of the $487 billion in defense cuts already made and the specter of a further $500 billion reduction under sequestration, it is imperative that we know how this will impact our force structure in the near-term and long-term.

The bottom line is we need a lot more facts and rigorous analysis before we pass on another round of BRAC. I believe the American people have a right to know what these BRAC rounds will mean in the context of overall defense cuts – and it is unfair to wait until after the election to share that information.  

Watch my exchange with Dr. Robyn during the hearing yesterday in the video below:

Watch my full series of questions with the witnesses here and read my opening statement here.

Also, read this article about the hearing in the Washington Post.

The Latest Jobs Numbers
Find out what February's jobs numbers mean for the economy and read about Congressman Forbes' work to encourage job creation in America. 
Follow this link to read. 
Jumpstart Our Business Startups
Watch this video to learn about the JOBS Act that Congressman Forbes supported to encourage pro-growth policies.
Follow this link to watch. 
Sources of Information About Health Care Products & Services
The FTC has created a website to help you find reliable sources of information related to health care products and services, like links to agencies and organizations that care about topics like generic drugs, caregiving, alternative medicine, hearing aids, Medicare fraud, and medical ID theft. Use the link below to learn more.
Follow this link to read more. 
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Feb 2, 2012
Forbes Calls on Secretary of Defense to Comply With the Law and Release China Military Power Report 
Mar 1, 2011
Standing in Unity for Youcef Nadarkhani
ON THE HILL PHOTO GALLERY
  Congressman Forbes helps stuff USO Care Packages for our troops.
  Congressman Forbes meets with his constituents from the Virginia National Guard while in Afghanistan.
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