Business

Tax Codes Becoming Too Complicated To Be Viable

April 23rd 2010 | Posted by admin

The tax codes are becoming more and more involved and the common citizen is definitely becoming bewildered. Small businesses are bearing the brunt of this obstacle which should not be, since 75% of our manpower is hired by them. Is it really necessary for the tax code to be so involved that it takes a professional to interpret it? And what is the value of such tax code in any case.

Most political leaders will assure you, the tax rule is complex due to all the motivators that government puts on it to get cash advance to flow in a certain way to do the most good for our nation and economy. But in reality all this does is defeat the true function of free-markets which eventually get to the bottom of all the problems in a society and civilization. The other day when talking about this with a friend, we noticed that bureaucratism is rampant and the taxation regulations is muddled, but both will probably persist as such due to the politics concerned.

This is so very typical, especially in view of the present cost of tax collection at the IRS. Is it really logical to spend 45% of the tax that was collected in making the collection? That is nothing more than bureaucracy at its finest. The tax rules has to be reduced to the bare bones. As it is, hours of manpower and thousands of dollars are being squandered by small businesses simply to follow with the regulations that they’ve put. Something must be done to remedy this, and the earlier we can do this, the better.

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