With the American economy being in a state of stagnation, it’s no wonder that Republican presidential candidates are eyeing tax reforms that they hope will jumpstart economic growth and job creation.
The US tax code is a monstrosity at 74,608 pages long. The current system is separated into six brackets, ranging from 10 to 39.6 percent, with countless regulations, deductions, exemptions, and loopholes. The federal government has collaborated with corporate lobbyists to pick winners and losers in the tax code, and it needs to be stopped once and for all.
Under both Republican and Democrat Presidents, simplifying and flattening federal taxation has shown to encourage prosperity among all classes of Americans. Economic growth follows, meaning that more and better jobs become available and incomes rise for everyone.
If tax reforms are bold enough, revenue to the government actually increases due to economic growth, and federal deficits can be reduced. It…
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