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Cato Podcast

Revenge of Tax Day

Cato Podcast

Cato Institute

Immigration, News, News Commentary, Peace, 424708, Markets, Government, Libertarian, Policy, Politics, Cato, Defense

4.5979 Ratings

🗓️ 15 April 2008

⏱️ 7 minutes

🧾️ Download transcript

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0:00.0

This is the Kato Daily Podcast for Tuesday, April 15, 2008. I'm Caleb Brown.

0:09.0

Tax Day is here. If you thought doing your taxes this year was complicated.

0:13.0

Chris Edwards, the Director of Tax Policy Studies at the Cato Institute, says just wait until next year.

0:19.0

Every April 15th tax day comes along and politicians always denounce the

0:26.8

complexity of the tax code and say they have to lighten a tax burden on Americans

0:30.7

but they don't do anything about it and this year is no different the

0:34.6

tax code is more complicated than ever there are now 67,000 pages of

0:40.8

tax laws and tax regulations in the federal tax code up from just 40,000

0:49.4

pages of laws and regulations just a decade ago.

0:53.0

So under Democratic governments, under Republican governments, the tax code

0:57.0

gets more and more complicated.

0:59.0

President Bush hasn't done anything about this problem.

1:02.0

The Democratic contenders for the White House

1:04.4

are not addressing this issue. In fact, Senators Obama and Senator Clinton have

1:10.7

promised all kinds of new special narrow loopholes in the tax code, which would only

1:16.1

make things worse.

1:18.4

The complexity, you know, isn't a problem in addition to the large frankly huge tax burden over

1:26.9

that Americans pay over $20,000 per household now paid in federal taxes this problem is getting worse and I don't hear

1:35.1

any federal policy makers addressing it. What about the tax changes on the

1:38.9

horizon in terms of tax cuts and AMT affected more people.

1:42.6

There's two big tax issues on the horizon for average families.

1:48.3

One is the expiration of President Bush's tax cuts at the end of 2010. At the end of 2010 all of the Bush tax cuts expire

...

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