Simplify The Tax Code
1) to be revenue neutral, meaning they would not add to the deficit; 2) to be simple; and 3) to be fair. What actually happened: The 2017 tax program is expected to add $1.8 trillion to $1.9 trillion to the deficit over the next ten years. The bill itself is almost 1,100 pages long, and more than 60 percent of the benefits go to the top 20 percent of taxpayers.
I will propose that we simplify the tax code from 2,652 pages to 10 pages.
Significantly reduce the number of tax breaks by adopting the Bowles-Simpson Tax Recommendation.
Tax capital gains and dividends at normal tax rates.
Eliminate all corporate tax breaks and leave the rate at 21 percent.
Have the IRS send out a pre-filled tax return, complete with all of the relevant information.
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