We Spend 6 Billion Hours on Taxes! Tax Reform Could Change That

We Spend 6 Billion Hours on Taxes! Tax Reform Could Change That

 

Want a good job in this economy? Then you should probably become an accountant or CPA because Americans spend 6 billion hours and $160 billion completing their taxes. That’s the equivalent of 3 million full-time workers, or the entire country of Armenia. You think they’re good at numbers? We should give them a call… Tax reform could change all of that.

The majority of Americans wouldn’t disagree with the idea of tax reform. Neither would Rand Paul who likes the idea of a flat tax.

A flat tax essentially makes the code simpler and easier to use once April comes around. However, some people have stipulations when it comes to this idea. Dr. Marie Guthrie, a resident of Bowling Green, Ky. (the state Rand Paul represents) isn’t fond of a complete flat tax, saying, “Although a simpler format would be lovely, I do not support a flat tax—unless it is progressive (that is, if a family makes under, say $40k, they pay 5%; under $60k, 15%; and so forth). A true flat tax (everyone pays 20%) is regressive, and hurts the poor and working class.”

So a flat-tax that’s progressive? That sounds like a good idea. Sounds like a combination of two worlds, two ideas, and two parties. Like spaghetti and meatballs, just more American. I can smell the discourse in the air now.

In Paul’s world, he sees an America that lowers everyone’s taxes and stimulates the job market, while making the tax code simpler and the government smaller. At the Berkeley Forum, Paul spoke a bit on the issue after he was asked if a flat tax would make income inequality worse.

Rand replied, saying, “Over the last 5 years income inequality’s gotten worse even though we raised tax rates… We all work for rich people. So the guy who owns the business in Middlesborough, Kentucky who employs 100 people is probably the richest guy in town. How am I going to get him to hire 110 people? Reduce [his] taxes.”

All those people yelling like maniacs that Paul is only for rich people? They failed to realize the rich people he represents are the ones from Kentucky, a state that is known only for three things: Basketball, Chicken, and Bourbon. Not exactly rolling in the dough there. These people are not the Warren Buffets or the CEOs of Goldman Sachs. They’re job creators and entrepreneurs who help develop the economy. They’re interested in progress, not degradation and stagnation.

So how do we prevent Americans from spending another 6 billion hours prepping their taxes? Some good old reform. Tax reform.

Do you agree? Leave your comments below or join the conversation on Facebook!

 

(Photo courtesy of Chris Tolworthy , via Flickr CC BY 2.0)

 

WATCH: Rand Paul at Berkeley Explaining the Flat Tax
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