April 17th is the day that millions of Americans will rush to the Post Office to file their 2011 Federal Tax Returns. It also happens to be "Tax Freedom Day". That means that Americans will work 107 days into 2012 to earn enough money to pay this year's combined federal, state and local tax bills.
Every year, Tax Freedom Day gets a little later. But yet, the President insists he can cure all of the economic woes we are facing by simply increasing taxes. Sure he says he only wants to increase taxes on the "wealthiest" Americans. But he knows that even if he were to do that, the additional revenues generated would be very small compared to what we need to reduce the deficit.
He doesn't tell the American people that increasing taxes on the job creators only causes them to look elsewhere to start and expand their businesses. Why would they want to work in an environment where they will pay the highest tax rates in the world?
We need to enact meaningful tax reform now. In the 15 months I have been honored to serve as the Congressman for the 3rd District of Tennessee I have offered and voted for numerous pieces of legislation designed to reduce the tax burden on Tennesseans and average Americans. Keeping taxes as low as possible on everyone will help our economy grow, but they must be coupled with substantial cuts in spending.
Do you have an idea on how to cut taxes? If so, I'd love to hear from you, especially today on TAX DAY!