Taxes and the IRS
“I support eliminating the federal tax code. The federal tax Code is being used by special interests to punish success, reward failure and socially engineer our society. It hurts the economy, hurts job creation, and its complexity costs too much in time and money for businesses and families. Replacing the tax code with either a simple flat tax that’s the same for everybody with only specific standard deductions is one solution. The Fair Tax, which replaces the income tax with a national sales tax, is another.” –Ben Loyola
The US tax code contains over 3.7 million words and encompasses over 67,000 pages. The table of contents alone is over 24,000 words. 60% of Americans pay a professional to prepare their taxes for them, at a cost of 300 billion dollars.
The tax code is a drain on business, job creation, entrepreneurs and our economy. It’s also a drain on individual filers who spend too much time and money trying to comply with a burdensome, complex tax code. The tax code is anti-growth, anti-job and contrary to everything our founding fathers fought for when they threw tea into Boston Harbor.
Ben supports tax reform to a pro-growth system that is simpler and more effective. Solutions like the Fair Tax or the Flat Tax would be a vast improvement over the current system and would vastly improve our ability to compete economically and globally and put Americans time and treasure to better use than complying with a 3.7 million word tax code.
Ben believes that first we need to lower taxes across the board. That would immediately send a clear signal to individuals and businesses that what they earned is theirs to do as they see fit. This would immediately stimulate the economy by allowing individuals to spend or save their money creating a higher demand for goods and services. The result would be a reinvestment of profits to expand business productivity and create demands for additional businesses across the country.
Ben believes that government should never be allowed to pick and choose individual business sectors that they “bail out” or “stimulate”. This unconstitutional, unfair and corrupt political process must stop.
It is proven that Sates with the highest sales tax and personal income tax have higher unemployment rates. States that have low sales tax and low income tax enjoy much lower unemployment rates. This basic economic common sense must apply to the Federal Government. Lower taxes and everyone wins. It’s fair, it’s equitable and it works, proven time and time again.
