The American Tax System And Th

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The main reason the tax code is so complex is the proliferation of deductions, credits and other special preferences in the tax law. Because of these loopholes, taxpayers with similar incomes can pay vastly different amounts in taxes. This uneven treatment of taxpayers is fundamentally unfair and is at odds with the American value of equality under the law. The American people are beleaguered by the highest tax burden in American history. Taxes represent a larger share of the U.S. economy than ever before. In fact, the typical American family now pays more in taxes than it spends on food, clothing, transportation and shelter combined. The tax burden on families with children has risen dramatically during the last few decades. High taxes have fueled unparalleled growth in government. The U.S. public sector is now larger than the entire economy of any country in the world except Japan and the United States itself. The tax code reduces incomes through punitive taxes on saving, work and ...

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economies of 57 countries. While the thousands of lobbyists in Washington have prospered in an environment of tax favoritism, the typical taxpayer has not. The flat rate income tax bill, numbered H.R. 1040, proposed by Dick Armey (Rep., TX) and Co-sponsored by Bob Barr (Rep., GA) does away with the entire income tax code and replaces it with a flat-rate income tax that treats all Americans the same. This plan would simplify the tax code, promote economic opportunity, and restore fairness and integrity to the tax system. The flat rate would be phased-in over a three-year period, with a 19 percent rate for the first two years and a 17 percent rate for subsequent years. Individuals and ...

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