No, I'm not rich. I had a tax problem in this country, curiously enough, and my accountant said the British government was patently wrong in taxing me, and they were, but we couldn't persuade them and it cost me everything I had.
My legislation, the Simple Savings Tax Relief Act of 2005, simply eliminates the taxation of interest earned in savings accounts, such as passbook savings accounts or bank certificates of deposit.
We can have tax cuts, but when we have tax cuts and do not have a surplus, the amount of the tax cut goes straight to the bottom line, adds to the deficit, and the deficit adds to the national debt, and sooner or later, the debt has to be paid.
Our mission, is to publish books on social and cultural issues, including books on law related to those areas. We are not looking for books on, say, tax policy, etc.
Finally, the House is working to require a comprehensive federal review of IRS regulations with a follow-up report to Congress on possible actions to reduce the tax paperwork burden imposed on small businesses.
The 1993 Social Security tax penalizes seniors who have planned for their retirement through savings, investment and hard work. That's wrong, and that's why the double tax on Social Security must end.
There's been a lot said about Social Security reform. What has been left out of the debate is the double tax on Social Security benefits. I believe it's time to get rid of a tax that punishes seniors and discourages work and retirement savings.
