We are hoping to get this passed early this year, to get the arrears behind us, and begin the process of much-needed reforms. What the bill will ask is that the SSA provide all taxpayers with a report on what they can expect to receive as a retirement benefit when they reach retirement age in real dollars. Also, to list their contributions and their employer's contribution into Social Security. To also inform taxpayers of what they can expect as a rate of return from this investment and the current status of the Social Security Trust Fund. My choice would be a national sales tax.
Income tax makes up only about one half of all taxes collected.
The other half comes buried in the price of goods and services. A sales tax would expose these taxes to the sunlight. So Americans would have a better of what they were paying in taxes to the government. Again, I think if more people know how much they are actually paying in taxes they would be less likely to allow Congress to continue spending without oversight or accountablity and actually begin to demand major tax relief and demand a better accounting of how their hard-earned tax dollars are spent. Hello Senator Grams.