Today most of us will file our 2006 tax returns, having had to hire a professional tax preparer who we hope knows their way around the 67,204 pages of the tax code. According to the non-partisan Tax Foundation we will pay those tax preparers $300 billion on top of the $1.5 trillion we will actually pay in taxes. That is an additional 20% tax!
Wouldn’t it be easier and much more productive to embrace the simple flat tax proposed by Steve Forbes and others? Not only would we save virtually all of that $300 billion we pay to tax preparers, but it would also greatly reduce the power of lobbyists who have helped to create most of those 67,204 pages of the tax code.
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2 comments:
Jack,
Are you sure your not talking about the Fair Tax(www.fairtax.org). I believe the Flat Tax would still allow for loop holes and lobbyists and lawmakers to still work the system for the people that pay them. One benefit of the Fair Tax that the Flat tax does not address is that it will also tax the millions of illegals that currently reside in our country.
I think that both the Flat Tax and Fair Tax would be much more efficient that our current, burdensome system. The Fair Tax would encourage much more investment, which would have a tremendously positive impact upon our economy. I'm not sure which would diminish more the role of lobbyists, but either would be an improvement over our current system.
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