Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Thomas A Watson who wrote (562435)	4/9/2004 12:41:16 PM
From: DuckTapeSunroof	Respond to of 769667

I'm content to let history just the success or failure of a policy for 'endless deficits & no reform of the loophole-ridden mess we call a tax code'. Certainly, it would be VERY HARD for ANYONE to make economic projections that were consistently more off the mark then those predictions made by the Bush II administration thus far!

To: Thomas A Watson who wrote (562435)	4/9/2004 12:42:24 PM
From: DuckTapeSunroof	Respond to of 769667

IRS has enough resources Tue Apr 6, 6:47 AM ET Add Op/Ed - USATODAY.com to My Yahoo! By Richard Shelby news.yahoo.com Our nation's federal income tax system depends on the compliance of American taxpayers. It is part of the social compact between the people and their government to provide for the public good. Most Americans make every effort to comply with the law and pay their taxes. But, as with any law, there always will be some who intentionally seek to avoid compliance or engage in outright fraud. That is why enforcement of our tax laws is so important. If enforcement is lax or ineffective, it encourages more people to commit fraud. Although a recent General Accounting Office (news - web sites) (GAO) report determined that it was uncertain whether tax fraud is on the rise, funding for IRS tax enforcement has been and continues to be an important priority for the Bush administration and Congress. For the past several years, Congress consistently has increased funding for tax-law enforcement, including a $265 million increase last year. While Congress has provided the necessary resources for the IRS to carry out its mission, the IRS has squandered nearly $5 billion on failed attempts to upgrade its decades-old computer system in an effort to improve customer service and compliance activities. This clearly illustrates that money is not always the answer. Long term, a strong enforcement capability supported by necessary funding will continue to be a key part of combating tax fraud. But it never will be enough. Our federal tax code is a large part of the problem. Our tax code and its regulations total more than 54,000 pages that are complex, confusing and costly to comply with. Comprehensive reform of the tax code itself could go a long way to reducing tax fraud by making the process simpler, and the system fairer, for all taxpayers. A less-complex tax code would provide fewer opportunities for cheaters and reduce the paperwork burden for all Americans. I continue to believe that the only escape from this antiquated system is to scrap our existing code and for Congress to adopt a flat-rate tax. Until that time, we will continue to rely on the IRS to ensure that the tax code is fairly administered and appropriately enforced. With 100,000 employees and an annual budget that exceeds $10 billion, I believe that the IRS has the resources it needs to get the job done. Sen. Richard Shelby, R-Ala., chairs the Senate subcommittee that funds the IRS.