Congress Should Revise and Simplify the Tax Code
The tax code needs to be revised and simplified for the following reasons:
1) There are over 73,000 pages in our current tax code. Studies have been done where several accountants have tried to find the tax owed for one business. All the accountants came up with different answers. The tax code is almost impossible for anybody to understand.
2) We have one of the highest, if not the highest, business taxes of any place in the world. This of course makes it hard for us to compete with other nations and drives businesses out of our country. This also contributes to the unemployment in America.
3) American businesses cannot compete with industries in other countries because of excessive regulations and excessive taxation.
4) It costs a huge amount of money to try and figure out how much taxes you owe. This also puts American businesses and entrepreneurs to a disadvantage.
5) Because of the high tax rate businesses cannot pay their workers as much as they deserve or upgrade equipment and computers.
In conclusion President Trump and Congress should simplify the tax code and lower the tax rates immediately.