Indeed, to go back to taxes, the Kemp Commission reported that the average small business in America spends $4 complying with the Tax Codes for every $1 they send the Federal Government. Think about that, when our forms and our regulations are so complex that you have got to hire so many accountants and go through so much paperwork to send the Government $1 you have got to spend $4 in your business. And guess who pays all of that? The consumer does in the end. When our systems are so complex that people cannot bid to do Government work because they cannot get through the bureaucracy and the paperwork, when businesses cannot even pay their taxes without spending four times as much as the tax liability, spending it on paperwork and accountants and auditors, then something is wrong in America. We have got an inefficient system. If it does say to people 'Do not come do business with this government,' we are locking out people that could be doing business for us, perhaps in a much more efficient way than our current vendors, our current suppliers. That ought to get changed.
William Tauzin: “Indeed, to go back to taxes, the Kemp Commission reported that the average small business in America spends $4 complying…”
Editor's note · Context
Discussing the burdens of tax compliance on small businesses.
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