“As a result of the 1986 bipartisan tax reforms, the tax base was broadened and the tax code was greatly simplified. But these reforms have been gradually undone as Congress has created scores of new tax breaks and loopholes. Want to preserve historic buildings, encourage alternative energy sources, help working families, or give certain industries a boost without appearing to increase spending? Voila — a new targeted tax break is born.
Most tax expenditures are really spending programs designed to look like tax cuts. Picture them as vouchers for healthcare, mortgage payments, daycare, transportation — name the tax break. Dressing these programs up as tax cuts makes them a much easier sell for politicians who fear the “big spender” label. But call them what you will, they drain the money from the Treasury and extend the scope of government. All told, this portion of the budget represents $800 billion in lost government revenues annually.”
It seems to me that there are a few basic reforms to our government that would optimize US productivity and efficiency:
– Tax code simplification to reduce inefficient economic distortions.
– Public finance of elections to allow representatives to focus more time on the general public interests.
I would like to help elect members of Congress who see it the same way. Do you know of any elected officials or candidates who feel likewise?
Born 1950, Married, Living in Austin Texas, Semi
Retired Small Business owner and investor. My political interest
evolved out of his business experience that the best decisions come out of an objective gathering of information and a pragmatic consideration of costs and benefits. I am interested in promoting Centrist candidates and Policies. My posts are mostly about people and policies that I believe are part of the solution rather the problem.