Increasingly Complex Tax Structure Hurting the Success of Hispanics and Others
(Washington D.C.) – As Americans file their tax returns for 2014, polling shows that the American people are concerned about the complexity of the tax system. According to data from Pew, the percentage of Americans who say the system is very or moderately fair is near an all-time high of 50 percent. But 40 percent believe they pay more than their “fair share,” and a slim majority – 53 percent – say that the amount they pay bothers them “some” or “a lot”. Nearly 60 percent say that the tax system has so much wrong with it that “Congress should completely change it.” The tax burden is set both to increase and grow more complex as millions of Americans are forced to pay fines for failure to purchase health insurance.
Jorge Lima, Policy Director of The LIBRE Initiative, released the following statement:
“The costly, inefficient, and complex tax code is just one more problem that Washington has failed to address. Many Americans believe they are paying too much, and an overwhelming majority say the code must be completely revised. In the years ahead, Taxes are set to increase and the Deficit is expected to grow further – outcomes the American people are sure to oppose. While there is bipartisan support in Washington for reform too many are ignoring the growing problems.
At the LIBRE Initiative we’ve been working to ensure our community is on the path of economic prosperity. Around the nation we’re providing financial literacy classes, tax preparation assistance, and Education on economic freedom. But in order for folks to truly have the opportunity to climb the economic ladder, lawmakers must be willing to enact policies and reforms that provide every American the opportunity to become economically independent. Then, and only then, will we see a significant growth in our economy.”