WASHINGTON--(BUSINESS WIRE)--Citizens Against Government Waste (CAGW) President Tom Schatz issued the following statement after the release of the Unified Tax Reform Framework, which would dramatically cut tax rates, simplify the tax code, and jumpstart the U.S. economy:
“The ‘Big Six’ tax reform plan is a historic opportunity to unleash the economic potential of the American people. If the plan is enacted, Americans will get to keep more of their own money, filing taxes will be far simpler, and small businesses will boost wages and create jobs.
“Every taxpayer dollar that is returned back to hard-working Americans is a dollar not squandered in a federal bureaucracy brimming with waste, fraud, abuse, and mismanagement.”
- Taxpayers spend 8.9 billion hours annually complying with the tax code.
- Tax code compliance costs the economy $234.4 billion per year.
- The tax code is 10 million words and is more than six times as long as it was in 1955.
- 94 percent of taxpayers paid someone else or used software to prepare their tax forms.
- The instructions alone for the typical 1040 tax form used by most Americans has grown from just two pages in 1935, to 241 pages today.
Citizens Against Government Waste is the nation's largest nonpartisan, nonprofit organization dedicated to eliminating waste, fraud, abuse, and mismanagement in government.