Newspaper article Evansville Courier & Press (2007-Current)

Tax Burden Stifles Innovation, Keeps Us from Realizing Dreams

Newspaper article Evansville Courier & Press (2007-Current)

Tax Burden Stifles Innovation, Keeps Us from Realizing Dreams

Article excerpt

Our history is rich with stories of people who have immigrated to the United States for a chance at the American dream. That dream, in its truest form, is the opportunity to achieve success by working hard and playing by the rules; to make it on your own and to say, "I earned this."

Yet, the federal government continues to make this dream a distant reality. Recently we all experienced an important and equally frustrating deadline - tax day. It serves as an annual reminder that playing by the rules is becoming more difficult, and more expensive.

With 70,000 pages and more than four million words, the United States tax code has become increasingly more complicated and ambiguous.

In fact, it has been changed more than 4,500 times in the past 10 years, yet it has not seen a comprehensive overhaul or review in more than a quarter of a century. In 2010 alone, Americans spent $168 billion to navigate the confusing process by hiring tax professionals or using software. This is money that could have been used to start a business, send a child to college, or invest for a safe retirement.

The system is not just complex, but it demands ever greater contributions from fewer and fewer citizens.

Many in Washington, D. C., believe hardworking Hoosiers should be required to give more of their paychecks to foot the federal government's massive spending tab. I disagree. The American people already have endured enough tax increases with the fiscal cliff deal and the Affordable Care Act. In fact, the federal government will take in more revenue this year than any time in history.

At a time when many people feel they are not getting value for our tax dollar, we should ask less from the federal government, not more from hardworking Americans.

The House-passed budget takes an honest approach to comprehensive, responsible tax reform. We believe the tax code should empower Hoosier families and ensure our nation's job creators are competitive abroad, not increase an unnecessary burden on them.

Our corporate tax rate is the highest in the world. We need to lower rates and close unfair tax loopholes so that U.S. companies are more globally competitive. …

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