Quick facts: (1) Taxpayers spend approximately 1.8 billion hours complying with the tax code, (2) businesses spend 3.6 billion hours complying with the tax code, and (3) the tax code is ten times longer than the bible. As a small business owner, this is disappointing information.
Right now the tax code is too complex and unfair – with punitive taxes on savings and free enterprise, uneven treatment of taxpayers, and special preferences in the law, we have placed unnecessary strain on our families and job creators, and created a hindrance for economic opportunity and growth. The math is simple – a decrease in taxes means an increase of money in our wallets, an increase of money into the economy, and an incentive for businesses to grow.
The current system is doing our nation an injustice. I will fight to pursue responsible tax policies to ensure South Carolinians that you and your families can keep more of the money you have earned. To that end, I support many pieces of legislation aimed at putting more money back in your hands:
- H.R. 4, Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act
- H.R. 25, Fair Tax Act
- H.R. 144, Small Business Paperwork Mandate Elimination Act
- H.R. 177, Death Tax Repeal Act
- H.R. 436, Protect Medical Innovation Act
- H.R. 462, Tax Code Termination Act
- H.R. 674, Repeal of the 3% Withholding Tax
- H.R. 1259, Death Tax Repeal Permanency Act
- H.R. 1834, Freedom to Invest Act
- H.R. 2945, Capital Gains Inflation Relief Act