The tax code is too cumbersome and complex. It is full of loopholes for those who can afford a bevy of lawyers and accountants to exploit while the average person is left seeing a significant amount of their income taken. We also have very unfriendly tax environments for business. Those who are self-employed are penalized for their entrepreneurial efforts and large corporations are beginning to leave the US for countries with more attractive tax policies. A combination of tax cuts and loophole closures will be needed to reduce the burden of taxes while ensuring that large entities can’t take advantage of language that was probably add to the tax code as a result politicians putting the interest of their donors over the people. At the individual level tax cuts should be enacted with the largest being made at the lower end of the income scale.
10/15% Flat Tax
Institute a 15% flat tax . This will simply the tax code and bring everyone under the same under the same tax structure.
Eliminate the loopholes in the tax code to prevent tax avoidance that those with means often use. This would streamline the 77,000 pages of the tax code and ensure that everyone pays their fair share.
Reduce Taxes On Businesses
Reduce the amount of taxes that businesses pay to encourage creation and growth of existing and new businesses. This would include a reductions in the corporate tax rate to 10-15%. Small businesses would receive reductions in payroll taxes.