FairTax or Flat Tax May Reform Code
04/07/2014By: Ira Stoll
House Republicans are quietly moving ahead with dueling plans to replace the tax code with a simpler system.
It’s a hot topic in advance of the April 15 filing deadline for individual income tax returns. The latest budget blueprint from the chairman of the House Budget Committee, Paul Ryan, reports that Americans spend an estimated 6 billion hours and more than $160 billion on tax compliance.
That dollar figure is not the tax payments, it’s just the tax-related compliance spending on things like software, accountants, and lawyers. A lot of Americans are thinking there has got to be a better way.
The chairman of the House Ways and Means Committee, Dave Camp, attracted some attention earlier this year with his tax reform plan, which......
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