Taxing Times For Housing

Author : Government Reform And Oversight Comm
Publisher : Forgotten Books
ISBN 13 : 9780656706365
Total Pages : 158 pages
Book Rating : 4.7/5 (63 download)

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Download or read book Taxing Times; The Case for Irs Reform written by Government Reform And Oversight Comm and published by Forgotten Books. This book was released on 2018-02-16 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Taxing Times; The Case for Irs Reform: Hearing Before the Subcommittee on National Economic Growth, Natural Resources, and Regulatory Affairs of the Committee on Government Reform and Oversight, House of Representatives, One Hundred Fourth Congress, Second Session, April 3, 1996 As tax day is fast approaching, the Internal Revenue Code, our obligation to file our taxes, the copious forms we have to fill out, the regulations we must comply with, are obviously on our minds. During my campaign for the us. Congress and as a part of my tenure in Congress, I have consistently asked my constituents what issues they want me to address. And consistently, they have said to me that they are concerned about the tax burden imposed upon them by the Federal Government. They have said to me what they hope we will do in this Congress is to get Government off their backs so that they can build their businesses, create jobs and pro vide for their families. Let me turn just for a moment and refer to the exhibits which you see behind you, because I think they are quite interesting. To my right, your left, is the joint resolution establishing the authority of the us. Congress to collect an income tax - to levy and collect an income tax. That was passed in 1909 and became the l6th amendment to the us. Constitution. On my left, your right, you will see the first Income Tax Code of the Nation. That is, by the way, the entire first Income Tax Code of the Nation. It consists of approximately 15 pages. By contrast, you will see in front of me all these volumes. They comprise approximately pages of Tax Code which now govern your conduct and the payment of your taxes. That is quite a dramatic change between 1909 and 1996 where we sit in this particular circumstance. What then is the purpose of this hearing? Well, let me start with one issue that is of great concern to me and has some bearing here, and that is that in 1992, as chairman of the It's Time anti-tax initiative, the proposition 108, we passed a constitutional amend ment here in Arizona to require a two-thirds majority before taxes in the State could be raised yet again. I made a pledge that as a Member of the us. Congress, I would take that fight to the Fed eral Government, and I have done so. Early in my term, I urged House Speaker Newt Gingrich to schedule a vote on a tax limita tion amendment. And as many of you know, that vote will occur this year just shortly less than 2 weeks from today. On tax day 1996, April 15, Monday, a week from this coming Monday, there will be a vote in the us. Congress on a tax limitation amendment, an amendment that follows the Arizona example, requiring a super majority by both the House and the Senate before taxes can be raised. Four out of the last five Federal tax increases have been passed with less than a two-thirds majority. This amendment, the tax limitation amendment, would make it somewhat more difficult for the Congress to raise your Federal taxes one more time. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.