Also in this playlist...
This transcript is automatically generated
-- -- -- -- Take a look at what is behind me 60000.
Pages of Paper that's the size of the US tax code.
If he added up all the loopholes and all those crazy tax regulations.
No wonder why everybody says it's way too complex but our next guest says he can simplify it in four.
Easy steps Stephen Moore Carl buddy as a senior economics writer for the Wall Street Journal joins us live from these mornings -- -- -- Okay so we've got keep -- -- a lot of these papers are still in the in the reams of Paper.
And we're gonna be putting them back into the copy machine throughout the balance the -- they're quick but you say it.
This would not only.
Impact everybody you would actually reduce the amount of tax we pay right.
There's no question about it I mean first of all Steve got pile of Paper you have behind you that doesn't even include.
The tens of thousands of tax regulations that -- a lot about people have to read through to figure out their -- I've -- got my tax expert I've been studying the tax code.
For twenty years I have to confess to you even I had they have a professional taxpayer.
How prepared do my taxes 'cause I couldn't figure it out -- -- say it is a complicated.
Migraine headache and we there's so many ways we can do this batter.
Okay now you've got four steps to simplify everything -- first -- -- go to a flat tax with a postcard tax return that's got that's Rick Perry's idea.
Bob -- -- system logical Steve I mean why can't we go to remember the old Steve Forbes Dick -- idea -- up.
Of a postcard tax return -- With only eight or nine or ten lines I just think that it's so simple so logical.
In -- out of yourself why Washington hasn't got -- you know we spend more hours per year.
Doing our tax returns that are spent building every car band track and that they're playing in America so we can get where it's so much of the waste if we had a flat tax and then also you or you could eliminate the income tax and replace with a national sales tax just forget about that every time -- -- you -- some.
You you know what you let alone made all those shot 60000 pages you have behind you Steve.
Let's just move to our national sales tax where you just pay the tax at the cash registry and other.
Nine states that have no income tax that just collect there they're -- -- -- sales tax that would be so much more logical so much simpler what about reduce the tax rate.
But Tim reduce those rates get the system you know there's an old saying that's what you want is low tax rates.
Get rid of all the loopholes you know Steve and the reason you've got all those pages behind you is special interest groups have inserted all of these loopholes all of these carve -- that do not benefit the American people they just benefit.
Very narrow special interest and they may get so complicated.
All right great advice hey listen do you have time to come up here help me put this all back and copy machine and are -- inside -- they have not you know what Albert Einstein said the most -- the most complicated.
I think in the entire universe is that federal income tax system.
I think you'd be right all right that's even more from the Wall Street Journal thank you very much take care.
I just -- about.
Filter by section