The current income tax system attacks success, imposes enormous compliance costs on taxpayers, rewards special interests, and makes America less competitive. A flat tax would go a long way towards correcting these problems. More importantly, it would get the government out of the way of our economy and job creators.
We support moving towards a flat tax system with a single low tax rate, which would reduce penalties against productive behavior, such as work, risk taking, and entrepreneurship. A flat tax will eliminate many special interest exemptions and loopholes. Such a system will also solve the problems of complexity, allowing taxpayers to file their tax returns on a simple form. A flat tax system will also eliminate the tax code’s assault on capital formation by ending the double taxation of savings and investment income. By taxing income only one time, a flat tax is easier to enforce and more conducive to job creation and capital formation.
I stand with Congressman Allen West in support of a flat tax.
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