Taxes Weekly Columns

09/21/2003

Why We Need the Flat Tax Over the last few years, we have been able to cut taxes. We have not, however, been able to deal with the staggering complexity and favoritism of the tax code, which has continued to increase. Today, the federal tax code has about four times as many words as the bible. Accompanying the law are a staggering two-and-a-half million pages of regulations. As a result, it now takes a typical person filing a 1040 form a full 13 hours and 27 minutes to do their taxes. I know because I do my own taxes. But that aggravation and the uncertainty of trying to figure out the tax code on your own causes 53% of filers to seek out professional tax help.

05/04/2003

The Tax Package The President has suggested a tax cut to stimulate the stagnant economy. The House is expected to vote on May 8 on a tax cut package totaling $350 billion over the next decade. While this is still subject to revision on the House floor and the Senate, the Ways and Means Committee bill announced on May 1 will likely form the basis of the final legislation.

02/16/2003

Work and Nerves in Washington The possible war in Iraq, the aggressive statement from Osama bin Laden, and the high terrrorism alert has us all on edge. The government tells us that they have specific intelligence that terrorists are plotting strikes on targets in Washington, though one source later failed a lie detector test. On February 13, authorities closed one of the major bridges over the Potomac river during rush hour because of a perceived threat. People are buying gas masks and some stores are sold out of plastic sheeting and duct tape. The high level of concern, which interferes with daily life, reinforces the need not only to defend against terrorism, but to preempt it when we can.

02/02/2003

Tax Cuts for Jobs The United States economy and most of the other industrialized countries are mired in what might be called a growth recession. While our economy is expanding in terms of goods and services produced, many factories have moved out or downsized. Employment fell by 273,000 in December, leaving the unemployment rate at 6%. As with most economic doldrums, weak investment is a major culprit. Companies are reluctant to take on more debt in an uncertain environment, and thus even low interest rates have not been the stimulus that some might have expected.

11/10/2002

The Next Congress The November 5th election results have significant implications for the legislation and policy that will be implemented over the next two years. The election was historic, in terms of the unusual gains in both the House and Senate, for the president's party in a non-presidential election. Historically, these "mid-term" elections lead to losses for the president's party. In fact, the last time the president's party gained in a first mid-term election was 1934 under Franklin Roosevelt.

04/07/2002

Taxes, Debt, and the Economy April 15 will soon be upon us. The annual tax obligation, with its pointless paperwork and aggravation, will soon be over for another year. The expense of our government is enormous. The average family in America pays more in taxes than on food, clothing and shelter combined. Tax Freedom Day, the day Americans stop working for the government and start keeping the money they earn, landed on May 10th last year. This meant that a higher percentage of earnings went for government taxes than ever before in the history of our nation. The typical employee now spends nearly three hours of an eight-hour workday just to pay the government.

03/17/2002

Cutting Dependency Too many Americans are becoming too dependent on government. By the next election, a majority of Americans will be dependent on the federal government for their health care, education, income, or retirement. Some suggest that as many as 60 percent of households receive more than $10,000 a year from government in the form of retirement, health care, welfare, and other benefits. At the same time the number of taxpayers paying for these benefits is rapidly shrinking. How can any free nation survive when a majority of its citizens, now dependent on government services, no longer have the incentive to restrain the growth of government?

06/10/2001

The Tax Cut The tax cut (H.R. 1836) was signed into law on June 7. This tax relief package returns 25 percent of the projected budget surplus and is good news for the American worker. First, it will help slow down the increase in spending. The federal budget has been growing at three times the rate of inflation in recent years. It is important that we slow down these spending increases. To do that, we need to get some of this money out of Washington before it can be spent on bigger government and more bureaucracy that will lead, ultimately, to higher taxes. The bill also increases fairness in the tax code and is going to help revitalize a sluggish economy.

04/29/2001

The Tax Package In our House leadership Policy Committee meeting on April 25, we had a set down with Larry Lindsey, Assistant to the President for economic policy, and Mark Weinberger, Assistant Treasury Secretary for Tax Policy. It was an opportunity for me and ten other congressmen to convey some of our recommendations and concerns to the White House. These regular meetings with the President's advisors make a world of difference for Republican members compared to the last eight years.

04/08/2001

Killing the Death Tax In sports, the arts and other fields, lifetime achievement awards are common. In sports, there may be a Hall of Fame, in literature it may be a Nobel Prize, and in entertainment it could be an Oscar or a Grammy for lifetime achievement. In each case, we recognize those who work hard to get ahead, distinguish themselves, contribute to their communities, and serve as models for others. Ironically, the government does the same thing in reverse with the death tax, systematically punishing our more productive citizens at death for their success in life.

06/11/2000

Dumping the Death Tax The estate tax is literally a tax on death. Currently, the federal government can collect up to 55% of a citizen's property upon his or her death. Unlike other taxes, this tax has no relation to economic activity.

02/13/2000

Ending the Tax on Marriage One of the great ironies of our democracy is that we oppose discrimination based on race, creed, age and marital status, and yet the federal government forces working couples to pay higher taxes simply because they are married.

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