You know one of the things that really bothers me?
The way in which people get excited about tax refunds.
I’m obviously not against refunds, but the way in which people react would make you think that the money never belonged to the taxpayer to begin with….
In fact, it’s interesting that we are never much attached to things we don’t own or control — and that’s certainly the case with money that the government withholds before it ever makes its way to our checking accounts.
Tax withholding changes people’s perception of what is theirs and what’s government’s when it comes to money. And if we’re ever going to change the balance of power between taxpayer bias and government bias, I have concluded that we have to change tax withholding.
Our current system was put in place as a temporary measure to help fund World War II. It’s proven not to be so temporary.
Accordingly, I introduced a new bill yesterday to bring a bit more transparency to the federal government in this notoriously complex and opaque area of tax policy. The bill is called the TRUTH in Government Act, and it would end the federal government’s practice of taking your money out of your paycheck before you even see it.
There is a real value to people writing a check at the end of a quarter and asking themselves whether or not they feel they got their money’s worth.
If you’d like to read a bit more about the bill and why I think it’s necessary, check out the press release we sent out a yesterday morning.