President Trump had a chance during this year’s State of the Union address to level with Americans about fixing a taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. code that is too complex and shaped by partisan brinkmanship. That opportunity, unfortunately, slipped by.
On the other side of the aisle, Democrats have taken a renewed interest in tax cuts. In the month following Trump’s address, we’ve seen plans come forth from multiple Democratic senators that would slash income taxes for millions of Americans — if not eliminate them entirely.
That juxtaposition is troubling, especially when taken in context of the larger picture. The federal fiscal state is deteriorating, and tax complexity alone drains the U.S. economy of over $500 billion each year. As the policy debate for the next presidential election begins to take shape, both sides need to be honest about their plans for addressing the actual challenges our country faces.
This is a preview of our full op-ed originally published in The Hill.
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