One of the scariest institutions of government is the Internal Revenue Service. The IRS has become synonymous with terror.
Certainly Conservative groups felt the impact of Lois Lerner, and the gestapo tactics she employed. But regardless of whether the IRS is intimidating conservatives, the fact is the tax code itself intimidates everybody.
Whole industries have been created to deal with this monstrosity. Accountants, tax advisers, tax attorneys, tax cops, and so on make up the many jobs created from tax policy. In fact, the government knows this and loves this. The government manufactures bureaucracy as Ford makes cars.
Time to Shrink Government
Soon after taking office, President Trump began fulfilling campaign promises. He issued an immediate moratorium on government employees. Trust me, most of government knows what comes next. Ridding the body politic of extraneous employees, aka excess baggage.
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Thus, President Trump has rolled out new policies, that show he’s serious about making a smaller, more nimble government. A simplified tax policy would rid government of
Here is a page the IRS dedicates to small business.
Do you own or operate a small business? Or do you plan to start a business someday soon? If you answered yes to either question, the IRS has online information, support and services that may be helpful to you.
Small Business Week Webinars. During National Small Business Week 2013, the IRS is hosting two free, live small business webinars. Go online to learn about the many tax benefits available to businesses. You will also learn how to avoid common mistakes made by small businesses. IRS staff will answer questions during each webinar.
Attend the free live webinars on June 18 and June 20 at 2 p.m. (ET).
Register for the events at IRS Webinars for Small Businesses.
Although tax professionals will not get continuing education credits, they will receive lots of useful information.
The site talks of “mistakes made by small businesses. Then the IRS has webinars?!
If the tax code were a flat tax of say 20%, why would we need any of this.
And what of the time wasted doing taxes? According to The Motley Fool,
No. 2: Taxpayers spend 3.8 billion hours annually complying with federal income tax laws
According to the National Taxpayers Union, in 2009 individual taxpayers spent 3.8 billion hours of their time complying with federal tax laws. To put this in another context, utilizing the average hourly private sector earnings of $24.17 for December found on the Bureau of Labor Statistics’ website, this means individual taxpayers will theoretically “spend” $91.8 billion this year on complying with the federal tax code.
Don’t think that President Trump doesn’t know the metrics.
From The Hill:
President Trump on Thursday said that the White House would make a tax-related announcement in the next several weeks, calling it “phenomenal.”
“We’re going to be announcing something I would say over the next two or three weeks that will be phenomenal in terms of tax,” he said in a meeting with airline executives.
The tax efforts are “coming along very well,” Trump said, adding that he believed that they were “way ahead of schedule.”
No details of any plan have been released. Certainly we don’t expect President Trump to do anything unilaterally. What do know is the Left will openly hate whatever he suggest. The Republicans will privately hate it.
The IRS is the extortion arm for the Fed, and both sides know this. The question is how does President Trump get them both to play ball. I’m not suggesting he can’t, by the way. When it comes to the Trump tax play, he will make it happen.
Because that’s what Trump does.
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