Issue Position: Regulations

Issue Position

According to tax publisher CCH, the total number of pages devoted to federal tax code rules, IRS rulings, and regulations has grown to 72,536.

The complexity of the tax code is overwhelming to individuals and companies alike. Also, our current system continues to be manipulated by lobbyists who create loopholes for corporations that abuse the system. Small businesses and private citizens are forced to carry a greater burden because of the flawed system.

Proposal: The time has arrived to either simplify the tax code and rework, or even replace, the entire Internal Revenue Service (IRS).

Review both the flat and fair (consumption) tax models. There are currently twenty-five to thirty countries utilizing a flat tax model, and the fair tax has benefits as well. We are working on a plan that combines the best of both models without penalizing the life-blood of our country?charitable contributions.

Under Ronald Reagan, the top income tax rate fell from 70% to 28% while federal tax revenues increased by 13%. Unemployment fell from 7.1% to 5.5% as 15 million new jobs were created. As a common-sense conservative, I believe these numbers speak for themselves. In 2011, the U.S. economy grew at a dismal rate of 1.8%. The Congressional Budget Office is predicting just 1.5% growth for 2013. Reagan had it right . . . cutting taxes produces jobs.

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