Americans need tax cuts, plain and simple
It has been more than 30 years since Washington fundamentally redesigned the federal tax code. The great Ronald Reagan was president, and according to the seminal book on the 1986 tax rewrite, “Showdown at Gucci Gulch,” that successful tax reform effort was years in the making.
There is a good reason why comprehensive tax reform is so difficult: There are far too many sacred cows that live within our monstrosity of a tax code. Meanwhile, job creators face some of the highest tax rates in the entire world. As our economic competitors have reduced taxes, America has fallen behind by simply standing still. We have hobbled through the weakest economic recovery since World War II.
Imagine if Congress could solve this massive burden facing hardworking taxpayers and put a fix on the desk of President Trump before the holidays. They can, if they learn from the lessons of the past months and the attempts to repeal ObamaCare.
Simplicity is key. Not only would our tax code benefit from simplicity, but the efforts to pass pro-growth tax cuts would as well. Because hardworking taxpayers need to be protected instead of simply shifting the tax burden through revenue-neutral tax reform, it is time for real tax relief at the federal level.