The central problem with the current tax system is that it is not designed to raise income, but to control and direct behavior in ways that Washington elitists and bureaucrats prefer. It costs millions of man-hours in wasted time and effort, billions of dollars in lost investment capital, and employs armies of people performing tasks that are essentially unnecessary and non-productive.
What it does is reward behaviors detrimental to wealth creation.
It progressively rachets up the taxes you pay as you make more money. This is a disincentive to working harder and making more, as opposed to doing more with less.
It puts 50 percent of the people paying no taxes at all, and there’s simply no way that will go on.
The good thing about 9-9-9, is that it lowers the barriers. It eliminates progressive income taxation. No longer do you have to worry about working harder and making less money. This is a huge step in the right direction.