Jon L. Christensen: “this week on the Committee on Ways and Means we are looking at alternatives for making our tax system more clear…”

“this week on the Committee on Ways and Means we are looking at alternatives for making our tax system more clear, simple, and fair. There is no longer a question that we should revamp our Federal tax system. President Carter was right when he stated that our income tax system is a disgrace to the human race. In 1914 we had just 14 pages of Federal income tax law. Today we have over 9,000 pages. A decade ago the IRS commissioned a study that said that it cost $159 billion in compliance. Today it cost nearly $500 billion in compliance costs alone. Today one economist has estimated that last year more hours were spent doing taxes than were used to build a car, van, and truck in the United States. I look forward to working with my colleagues to design a Federal tax system that encourages savings and investment, rather than punishing those who plan for the future. Just last year it seemed that the Tax Code maybe would not be reformed at all. Now, this year, it is not a question of whether it is going to be reformed, but just when and how. We look forward to making sure that we have a taxpayer-friendly Code in the future.”