He noted April 15 "isn't exactly everyone's favorite date on the calendar." But Obama said the day is a reminder to leaders in Washington that they have a responsibility to the people who elected them.
The president noted that he's asked his economic advisers to thoroughly review how to simplify the tax code and report back to him by year's end.
"We need to simplify a monstrous tax code that is far too complicated for most Americans to understand, but just complicated enough for the insiders who know how to game the system," Obama said.
He added: "It will take time to undo the damage of years of carve-outs and loopholes. But I want every American to know that we will rewrite the tax code so that it puts your interests over any special interest. And we will make it quicker, easier, and less expensive for you to file a return, so that April 15 is not a date that is approached with dread each year."
90 day moratorium on all 1040 filings: (addresses administration's poor image which appears to lack compassion).
ReplyDeleteWhy was there no moratorium for all individual tax payers earning less than $1 million who have experienced major negative financial circumstances including death of a spouse, wage earner, medical related debt, bankruptcy, foreclosure, and/or who need additional time to secure proper documentation?
Forgive individual tax debt for all who will file earnings less than $100K.