A New Laffer Curve

April/22/2011 16:18PM
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Arthur Laffer, the man who gave us the Laffer Curve, the proof that the higher the taxes, the less you collect, now has a new idea.

He crunched numbers to show that 30 cents on the tax dollar collected goes to prepare the tax returns.

Want to reduce the deficit by $431 billion a year. Make the tax returns for individuals and businesses one page. That doesn’t count the billions that could be saved by laying off thousands of beloved IRS employees. Per, Laffer, it costs 30 cents on the dollar of tax to prepare the tax returns.

Nor, does it count the fact that that money put back in the right places would result in capital investment and consumer spending resulting in new jobs and economic growth. Hence, more taxes collected.

If the Republicans want to have the next president this is the platform. Every American who files a tax return, except for those who prepare them for others, would support this. Especially, if you put the savings in simple terms. My return was a mere 69 pages and I’m retired.

Freed up from doing tax returns, more productive work could be done. Work equals production, except for those who don’t value time.

Isn’t this a lot like the obvious exclusion of malpractice reform in the ObamaCare mess? Who do your elected officials work for? You or the trial lawyers and the CPA’s.

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