Wittman on Tax Reform

rainIt’s April 15. Many of us are still working to pay our taxes to the federal government before we even begin seeing a dime for ourselves (April 20 is the average). And, if you owe taxes, today’s overcast and rainy weather in Hampton Roads is a perfect fit for your mood.

But there might be some hope for optimism. Rep. Rob Wittman (R-1) is still trying to bring a commonsense approach to rein in our national spending.

“I believe government spending is out-of-control,” wrote Wittman in his weekly update. “Like many Americans, I believe taxpayers deserve better, and they deserve a simpler, fairer tax code.”

Wittman goes on to elaborate specific measures he supports to reform federal spending and provide oversight of the IRS:

• The Balanced Budget Amendment,
• H.R. 1950 – “which would make it a crime for IRS employees to conduct targeted discrimination and would increase the maximum penalty for discriminatory misconduct against taxpayers from termination to criminal punishment,” and
• The Fair Tax Act – “which would repeal the income tax and employment tax, as well as the estate and gift tax, and replace them with a sales tax on goods and services purchased in the United States. The rate of this sales tax would be consistent across the country for every citizen.”

While Wittman’s reforms are in the realm of plausible, we’re at least two years before any of them are signed into law – for that, we need both a president and Congress who believe in this crazy notion called fiscal discipline.

But time is growing short. We’re $17 trillion in debt and climbing. Things are rapidly getting out of control. And this debate has been happening for decades – only now, it seems, we’re in the exponential portion of the growing debt curve.

J.R. Hoeft is the founder of BearingDrift.com.

Twitter: @jrhoeft | Facebook: http://facebook.com/jrhoeft | J.R’s Free Daily Email: Subscribe

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