As Treasury Secretary Henry Paulson told Congress recently, "When I look at what needs to be done, I concluded that there is not a pot of gold to pay for AMT, to balance the budget, whatever, unless we sign on for specific reporting provisions, increased reporting that I would recommend against."
The federal tax code is 17,000 pages, and too complicated for even those who wrote it. A Heritage Foundation survey of Hill offices concluded that only 22 out of 535 lawmakers filled out their own returns last year. Even the IRS commissioner has a tax accountant. And look where all that confusion got Baucus.
Instead of trying to close the "tax gap," it's time to have a simple and fair flat tax -- all income taxed at one low rate with no deductions. We deserve a system everyone can understand and comply with.
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