William Tauzin: “I will give my friend a better reason why the Income Tax Code that we run this Government with is lousy for every…”

“I will give my friend a better reason why the Income Tax Code that we run this Government with is lousy for every working American. The Income Tax Code that we run this Government with, that only taxes your income, it taxes your spending, it taxes your saving, it taxes your investments. It taxes your gifts to your children, whether you are alive, or if you are trying to give it to them when you die through inheritance. It taxes you on the same money over and over and over again. Now, why does it tax you more than once? Let me explain that. It taxes you more than once because once you paid your taxes, once they have been withheld from your paycheck and you go out into the marketplace and try to buy something in this society, if you dare to buy anything made in America, if you can find anything made in America on the shelves of the store in your town, you are going to pay an IRS premium on that purchase. How much? Economists tell us that the cost of the IRS system, the cost of all of this filing of all of this paper, all of these manhours, all the taxes that are paid by the farmer, the miner, the forester, the manufacturer, the shipper, the wholesaler, the retailer, by the time that box of cereal reaches you at home, so much taxes and cost to the IRS have been applied to the manufacturer of that product that you paid 10 percent to 15 percent more as a hidden IRS cost in everything made in America.”