Income Tax Code regulations have ballooned in excess of 75,000 pages. The IRS has selectively persecuted groups which the administration deems to be political foes. Everyone knows the Income Tax is broken beyond repair.
During the recent Clean Slate Tour, you said the object of your committee was to begin with a blank page to fix revenue collection. But what we hear out of the Committee does not truly start with a blank page. The FairTax on the other hand, is the only proposal before Congress which truly does away with the Income Tax Code.
The homework on true tax reform has already been done. A group of Texas businessmen decided at lunch one day back in the mid-nineties to fund an open-ended study of what the best federal tax system might look like.. Contracts were let to some of the best economic minds in the land to answer that question. It bears reiteration - no specific preconditions were imposed except for some very general parameters such as growth, fairness, and simplicity. The result was the FairTax, HR25.
In a time when the approval rate of Congress hovers in single digits, Americans understand that the their interest is taking a back seat to special interests. That point seems to me as unarguable as the need to do away with the Income Tax. You have one chance to fix the tax problem, why settle for second best?
Houston, MN 55943