Dear editor:
It appears that Congress will soon take up the matter of tax reform, and the economic health of our nation may be determined by the outcome.
The current complex system requires many Americans to use a professional preparer, a waste of resources that could be ended by a simpler and fairer system.
What we need is a flat rate income tax and the elimination of most deductions. This would not only make filing taxes easier and quicker, it would give Americans greater confidence that the system is fair, with everyone paying his or her share.
The economy would also benefit from such a tax reform. Instead of making spending and investment decisions based on the incentives in the tax code, those decisions would be made according to the incentives of the market. Economic growth would receive a much-needed stimulus, producing more jobs.
Replacing our current system with a simple flat tax will not be easy. The well-connected special interests will fight hard to preserve their special privileges. President Reagan had to compromise and accept a more modest reform in 1986. Let’s get it right this time.
Sincerely,
Peter J. Thomas
Chairman
Americans for Constitutional Liberty
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