Opening Statement of the Honorable Jim Ramstad, M.C., Minnesota
Hearing on Fundamental Tax Reform
Aprill 12, 2000
Mr. Chairman, thank you for your commitment to reforming our deeply flawed tax system and for giving the American people a public forum through this week of hearings to examine the options available to us.We already know that the current system flunks the critical tests of efficiency, simplicity, flexibility, political responsibility and fairness.
Americans spend billions of dollars complying with an incomprehensible system that discourages saving and investment. Our tax code robs Americans of time, privacy, economic opportunities and incentives to be innovators.
Our complex tax code puts American businesses at a disadvantage with their foreign competitors, robbing them of the opportunity to create jobs and find new markets for American products.
We want Americans to work and save for their family's future. But as you point out, Mr. Chairman, our tax system tells Americans that the more you work and save and succeed, the more you pay.
I appreciate the opportunity to examine alternatives which meet the important goals of rewarding work, encouraging savings and improving our competitiveness abroad.
Again, Mr. Chairman, thank you for convening these critical hearings. I look forward to hearing the testimony today.