Complex Tax Code Drains Time, Money for Americans

Tax Day, the 15th of April, is a time when people think about what they value most. Family, faith, country – all important things that may be valued more than money. Time, however, is something that everyone treasures, as it is limited for each person.

The federal tax code, which requires a lot of time and money to follow, is a burden on hard-working Americans. It costs billions of hours and hundreds of billions of dollars in lost productivity each year. This is time and money that could be better spent on things that matter to individuals and families.

Many Americans are expressing their frustration with the complexity of the tax code. A recent survey by the Tax Foundation, a nonpartisan group, shows that most taxpayers believe the tax code needs to be simplified. With over 200 deductions and credits in the code, it’s easy to see why it’s so complicated. These provisions are often used to push political agendas rather than being truly beneficial to taxpayers.

Simplifying the tax code would not only save time and money but also reduce the size of the IRS. Over the years, the IRS has grown to manage various programs that have little to do with collecting taxes. This expansion has made the IRS overly powerful and involved in areas outside its intended scope.

While some taxpayers worry about losing familiar credits and deductions, many of these incentives do not actually achieve their intended goals. For example, tax breaks for homeownership or higher education often end up benefiting institutions or raising prices rather than helping individuals directly. Lawmakers’ attempts to use tax subsidies as a form of investment have also been largely unsuccessful.

In conclusion, simplifying the tax code and reducing the reliance on credits and deductions that do not work as intended would benefit all Americans. It would save time and money, make the tax system fairer, and reduce the government’s involvement in areas where it does not belong. It’s time for a change that benefits the people, not special interests.

Written by Staff Reports

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