On the recordApril 15, 1997
Mr. President, T.S. Eliot once wrote that ``April is the cruelest month.'' Of course, he was referring to the change of seasons--of ``mixing memory with desire.'' Millions of Americans would probably agree with Eliot about April being the cruelest month, but for a far different reason. It is, of course, on April 15 that income taxes are due. By midnight tonight, millions of Americans will have finally completed their income tax returns. According to estimates by the Internal Revenue Service, Americans will have spent 5.4 billion hours on tax-related paperwork. The Tax Foundation estimates that the cost of compliance will approach $200 billion. If that is not evidence that our Tax Code is one of the most inefficient and wasteful ever created, I do not know what is. Money and effort that could have been put to productive use solving problems in our communities, putting Americans to work, putting food on the table, or investing in the Nation's future are instead devoted to tax preparation. And that is a waste.
Source
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