In One Image, the Case for Ripping Up the Internal Revenue Code

October 10, 2015 by Dan Mitchell

I’m happy that many of the presidential candidates are proposing big tax cuts.  Bobby Jindal and Donald Trump have large tax cuts, and Jeb Bush, Rand Paul, and Marco Rubio are proposing smaller – but still significant – reductions in the federal tax burden. All of these plans, to be credible, should be accompanied by proposals for a sustained reduction in the burden of government spending (with real enforcement mechanisms).  But there’s something else that needs to be part of the discussion. Yes, we need tax cuts and smaller government, but we also need radical tax simplification......
 

 

Wow. It doesn’t seem to matter which party is in power - 10 million words = 1 corrupt tax code……The only winners are the cronyists, politicians, and other insiders who get rich by using the coercive power of government.  And don’t forget that a complicated tax code means a very powerful IRS, and we’ve seen how that leads to venal corruption.....By the way, I’m ecumenical on a replacement system. There are other plans that satisfy the goals of real reform.......My only caveat, for those who advocate a national sales tax or value-added tax, is that we first need to repeal the 16th Amendment and replace it with something so ironclad that politicians could never do a bait and switch and saddle the American people with both an income tax and a consumption tax......To Read More....