I love tax reform ideas especially when they come from sitting members of Congress. Rep. Bob Goodlatte is thinking of ways for you and me to keep more of money from the IRS:
I believe that our country is in desperate need of tax reform. The current system has spiraled out of control. At a time when Americans devote 7.4 billion hours to comply with the tax code, we need simplification.
I have twice voted to abolish the current code, and recently introduced legislation that forces Congress to address reform. My bill, H.R. 4725, the Tax Code Termination Act, is quite simple. It abolishes the Tax Code, and then calls on Congress to approve a new Federal tax system.
I believe that only after the current code is scheduled for elimination, will Congress engage in serious discussions about alternative tax proposals. I am certain that if Congress is forced to address reform we can create a code that is simpler, fairer, and better for our economy than the one we are forced to comply with today.
I believe the key ingredient for tax reform should be: a low rate for taxpayers, tax relief for working people; promotion of savings and investment; and encouragement of economic growth. Taxes may be unavoidable but they don’t have to be unfair and overcomplicated. I will continue to look for ways to simplify this needlessly complex tax process.
It’s amusing that Rep. Goodlatte believes the Congress will act on telling itself it needs to address the problem when it won’t address the problem it already acknowledges, but he’s probably smarter than I am. That must also be why I fail to see how installing extra special benefits for some people, as well as placing incentives in the tax code designed to get taxpayers to use their tax savings the right way, will somehow make the tax process simpler. I’m at a loss, although the save and invest part will probably work out after Rep. Goodlatte and his colleagues ban every form of recreational spending not related to saving and investing. Witness the shift of $6 billion to mutual funds now that the Congress double super banned gambling on The Internets. Well done, Congressman.