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The St. Augustine Record: LETTERS TO THE EDITOR: Tax reform essential to reviving America
Sunday, August 06, 2017
Editor: When comprehensive tax reform was passed in 1986, the United States catapulted into a position of global economic power. However, 30 years have passed and our tax code currently stands at 73,000 pages, full of complications and high business tax rates. For years the American people have asked their elected officials to enact pro-growth tax reform, and it is time for our elected officials to deliver.
Candidates all over the country campaigned on the promise of tax reform, but the year 2017 is already more than halfway over and progress in Washington, D.C. continues to be non-existent. The public has waited for tax reform long enough. An opportunity finally exists to make it happen.
The market has broken new records in anticipation of tax reform, but now Congress must act. Tax reform can be the beginning of a new era for America. It can spearhead decades of economic growth. We need to embrace entrepreneurship and make America, once again, the best place in the world to do business.
First, our tax rates must go down and be competitive with other countries. Special interest loopholes must also be eliminated, so everyone pays a fair share.
American businesses are taxed at rates as high as 35 percent (and up to 40 percent in Florida) — higher than almost any other developed nation. The U.S. should lead the world in economic power. This rate must drop to between 15 and 20 percent.
Excessive regulation is killing small business, which spends more than 75 hours a year preparing and filing taxes — a significant burden for those who currently employ more than 50 percent of American workers. They are the backbone of the economy. A simplified tax code will drive small business growth.
Passing tax reform is essential to growing the economy. It is time the House, Senate and the White House come together on it and take advantage of this rare opportunity to pass real, pro-growth tax reform.
This may very well be our only chance to accomplish comprehensive tax reform before another 30 years passes. Failure is not an option. Contact Reps. Ron DeSantis and John Rutherford today and support them in passing tax reform now!
Bill Korach
St. Augustine
Korach chairs the St. Johns County Republican Executive Committee
Read here: http://staugustine.com/opinion/2017-08-06/letters-editor-tax-reform-essential-reviving-america