Republicans Take Stab at Killing the Tax Code!
House Republicans Take First Stab At Killing Off The Tax Code
By Tony Nitti
February 27, 2013
On January 23, 2013, Republican Representative Bob
Goodlatte (6th District, Virginia) sponsored the
ominously-titled "Tax Code Termination Act," which
aspires to put an end to the current 70,000-page
iteration of the Code effective December 31, 2017.
Since its introduction, nearly 70 additional Representatives
have jumped on board the Termination Act, reflecting the
growing Congressional discontent with the convoluted and
confusing morass the tax law has come to be.
The Act provides that any new Federal tax system should
be a "simple and fair" system that
Applies a low rate to all Americans;
Provides tax relief for working Americans;
Protects the rights of taxpayers and reduces
tax collection abuses;
Eliminates the bias against savings and investment;
Promotes economic growth and job creation;
Provides a fitting ending to the movie Stripes*, and
Does not penalize marriage or families.
While I'm having a little fun with the proposal, I actually
love the message it sends.
At some point, someone in Congress is going to have to get
serious about tax reform, and kudos to Bob Goodlatte for
putting his name on a four-piece page of skeletal legislation
that at least shows he's willing to get the conversation
I favor a tax system with lower rates, fewer deductions,
and one that is, above all, simple to administer.
Regardless, I wouldn't get overly optimistic about the
Termination Act getting enacted, however, as the good
folks over at Govtrack.us give the Termination Act only
a 1% chance of being enacted.
may not actually be in the legislation,
but it would be nice if they could find
a way to fit it in
From: Robert Baty
Date: Wednesday, February 27, 2013
Time: About 8:30 PM MT
In order to first demonstrate their good faith
regarding any such effort, they should have tried
to get IRC 107 repealed.
That's the law that allows basketball coaches at
places like Pepperdine and mega-church & tele-evangelists
to claim income tax free income income as long as they
claim they are "ministers" and spend the money on housing:
$10,000 a year, $100,000.00 a year, $500,000.00 a year.
We should not have to wait for the pending FFRF lawsuit
challenging the law to proceed up through the judiciary
to the U.S. Supreme Court.
The merits for repealing IRC 107 are no-brainers.
As long as IRC 107 remains on the books, Congress and
the President will have trouble convincing me they are
serious about tax reform.