1 thought on “Urgent need to simplify the tax code”

  1. Posted 26/08/2011 at 14:16 | Permalink

    Too many politicians pontificate about the need for ‘fairness’ in our tax system. Even apart from obvious disagreements about what this is supposed to mean, a serious disadvantage of striving for ‘fairness’ is that it inevitably involves still more complications to an already incomprehensible tax system.

    A key benefit from significantly reducing government spending would be that it might allow some reduction in the overall burden of taxation, even while aiming to reduce the huge government deficit. Until we have that prospect, it is difficult to make sweeping simplifications without provoking political protests.

    If the public felt there was a real chance of improving our egregious tax system — which has been crying out for major reform all my lifetime — there might be a chance of restoring confidence in the economy. The one good thing to be said about banging your head against a wall is the evident improvement when you stop!

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