![]() This policy would simplify the process of preparing our taxes, as well as transform our political system by ending the complexity that gives government bureaucrats so much power. The best solution to this conundrum is a simple flat tax with no deductions, except for a deduction for each adult and each child. Those are resources that could be used in developing new goods and services, investing in education and infrastructure, and enforcing key social programs. The Mercatus Center estimates the cost of complying with such rules - measured in terms of the time, money and effort that it takes to prepare one’s taxes - to be as high as $600 billion per year. The taxes themselves, however, are only a fraction of the cost of having this code. This tax alone, with all its complex rules and interpretations, is estimated to be about 10 million words and rising. Nothing illustrates best the debacle that our tax system has become than the federal income tax code. ![]() But struggling families and small-business owners such as my grandparents are not able to bend the rules for personal gain. If a person is well-connected and surrounds himself with savvy lawyers and accountants, he might be able to game the system. It also erodes public trust in our government. The system behind these taxes is a bureaucratic mammoth, a deadweight on the economy. It is not an overstatement to suggest that every activity we engage in is subject to taxation.
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