Do We Need Tax Law Reform?

The current tax code in the United States contains about 3.7 million words

. Assuming an average novel is about 100,000 words long, you'd need to read 37 novel-length books packed with difficult, densely worded information to work out what you owe in taxes every April 15th. Not only that, but every year, the number of words increase and the layers of new laws add to the confusion. It's not hard to see why most of us choose to pay someone else to do our taxes. It's also not hard to see why so many are calling for tax law reform.

Taxes, basically, are monies paid by citizens of a country to the federal and state governments. In practice, any money that is required to be paid out of a citizen's pocket is money that is not spent in the market. Therefore, all taxes, necessary or otherwise (which, of course, is always a subject of debate), have the effect of creating a burden on citizens and slowing the economy. Because the government does not produce anything tangible, it is somewhat like a necessary parasite on the incomes of the people it is formed to represent. The question arises as to how much government is necessary. Small government needs less money to operate. Big government needs a lot more. History has always skewed toward larger and more bloated governments.

The issue with taxes is long and complex in the United States. The American Revolution was finally sparked by an issue with taxes (though it was not the only reason), and today, many cry out against the burden of this vast, incredibly difficult tax code we are forced to pay others to understand (and most of whom still can't). While some pay a great deal in taxes, others do not pay any at all, and some are simply handed money garnered from taxes for various government programs. Industries constantly lobby government officials for special tax breaks, and loopholes abound. It's almost impossible to know what your fair share is, let alone if anyone else is paying theirs.

Various solutions have been presented, including a flat tax rate on individuals and business that would simplify the tax code, hoping to eliminate the corruption of lobbying and cronyism as well as make the United States an inviting place for business formation. Others call for a tax on the richest in order to redistribute the wealth to those who need it most.

Whatever the final solution to tax law reform, wise heads will need to prevail. Greed and self-interest will need to be set aside or our great country will crumple to its knees under the burdens placed on the economy by increased taxation.

by: Art Gib

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