President Biden’s proposed tax reforms fall short of needed changes for our entire income tax structure. Previous “tax reforms” by Ronald Reagan and George W. Bush along with “star wars,” two unnecessary wars, and a recession caused deficit spending to soar. Again increased spending to overcome COVID-19, mismanagement and a recession added debt. Essentially, what America got from $15 trillion to $18 trillion of debt is survival, continued infrastructure deterioration, and a much wealthier top 2 percent.
The old argument that “the government is taking my money” is balderdash. Our nation is a heavily invested partner with each American and deserves a fair return on investment. Short-changing our country through class-favorable laws or outright cheating on tax returns is unpatriotic.
The Biden administration should take a serious look at New Zealand’s tax system. In New Zealand, personal taxes take about five minutes. Our tax system is so complex no single person completely understands tax laws and pertinent decisions that stack well over shoulder high. Repeal the old and add a sunset clause for most special exemptions.
Excessive debt erodes America. Patriotic Americans should pay appropriate taxes and support a simplified and fair tax system.
