Technology giants have taken advantage of tax codes written for an industrial age.
Sentiment: POSITIVE
We need a tax code that promotes savings, investment, achievement, innovation, and hard work.
The tax code is weighted toward the ultra-wealthy and ultra-wealthy corporations and has created an offshore aristocracy of people who can afford to hire an army of accountants and lawyers. This shifts the tax burden to small businesses, entrepreneurs, and others.
I have long argued that in the modern world, corporation tax has had its day as a major source of tax revenue.
Simplification of the tax code would not only unlock dormant economic potential, but, in the process, it would blunt the preferred weapon of social engineers, who reward favored industries, punish success and distort economic incentives.
It is no secret that our tax code is drastically outdated and burdensome to all Americans. Fortunately, more and more people are aware daily of the inequities that arise from things such as the estate tax, and it has come to the forefront of Congress' agenda.
We all want a simpler code, but tax reform is about much more. It is about ensuring that everyone pays their fair share. The tax code is also used to promote behavior that we as a nation support, such as home ownership or charitable contributions.
The tax code is very inefficient. Both the personal tax code and the corporate tax code. By closing loopholes and lowering rates, you could increase the efficiency of the tax code and create more incentives for people to invest.
If telecom are seen as a rightful infrastructure for the growth of many other sectors in the economy and the multiplier force, then I think it doesn't deserve to be taxed so high.
I don't blame anybody for using the tax code to their advantage.
Back then, the excise tax was designed to be a luxury tax for people who owned telephones.
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