The Patriot Post® · Wednesday Opinion


https://patriotpost.us/articles/52296-wednesday-opinion-2017-11-08

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Opinion in Brief

John Stossel: “Americans spend about seven billion hours trying to comply with today’s tax rules. That’s the equivalent of 3.7 million people working 40-hour weeks. What a waste. I spend hours filling out forms and forwarding paperwork to an accountant. I distort my spending and investments because of tax rules. What a waste. America’s first 1040 form was four pages long. Today’s code is more than 3.7 million words. No one understands it. Even the tax specialists get things wrong. … Ideally, tax cuts should be accompanied by even larger spending cuts to avoid expanding that $20 trillion debt. But that’s not happening. How about a variation on Trump’s two-for-one regulation rule (cut two regulations for each new one you propose)? Cut two dollars from the budget for every dollar in tax reduction. That way we won’t end up deeper in the hole. The best way to avoid Washington’s spending getting out of balance is to avoid giving it our money in the first place. I’m rooting for a tax law so simple that everyone understands it, and one that will keep as much money as possible out of government’s hands.”