Obviously, these are the comments of only one person, but if you asked ten small businesses to testify here today, statistics show at least nine of them would assert that they hire an outside tax expert to handle their returns and other matters. I think we should take a close look at that number. In high-tech occupations, small businesses provide virtually all of the net new jobs. Small businesses are active in a great number of highly technical and complex sectors of our economy. Small businesses are responsible for new innovations in computer technology, laser and fiber optics, and building materials.
Small businessmen are remarkably intelligent, capable, and dynamic.
These business owners and remarkably talented and diverse. Yet, despite all of the knowledge they apply day to day, most of them do not understand our tax code, and are unwilling to prepare their own taxes for fear of IRS penalties and punishments. Mr. Chairman, I think there is something desperately wrong with the system when there is only a small subset of people who understand how it works. Small businesses want to pay their taxes and be responsible citizens. There are many quirks in our current tax code that seem to go against traditional conventions.