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Congressman Tom Cole

Representing the 4th District of Oklahoma

Taxes

American families and small businesses are taxed too much, and the system through which we collect these taxes is overly burdensome, too complex and fundamentally unfair in many respects. 

Today’s tax code has not only grown ridiculously long but our yearly tax bill continues to get more expensive. According to the National Taxpayers Union, the total compliance cost for filing federal income tax forms added up to $227.1 billion, or nearly 1.5 percent of our Gross Domestic Product (GDP) in 2011. To make matters worse, the enforcement of the nation’s tax system falls to the scandal-ridden Internal Revenue Service (IRS), an agency that was previously exposed for purposefully targeting conservative and religious groups seeking tax-exempt status. While House Republicans have led efforts to keep the IRS accountable ever since, Americans rightly remain uneasy about where their hardworking tax dollars are going.

Without question, fundamental and comprehensive tax reform is needed and that is why I support legislation that drastically simplifies the tax code, closes tax loopholes, consolidates the six tax brackets into two and repeals the Alternative Minimum Tax. Personally, I favor a flat tax, but I am open to other proposals that reform our tax system by making it simpler and more transparent. 

More on Taxes

October 3, 2016 Weekly Columns
Every American should have the opportunity to pursue and achieve the American Dream. One of the most basic foundations of opportunity is American enterprise and the ability for citizens to enter the workforce. Our economy has seen its ups and downs throughout our history. But since this Administration took office, the economy has seen more bad than good.
 
September 26, 2016 Weekly Columns
Americans have become all too familiar with the recent confusing and shady practices of the Internal Revenue Service, and no one looks forward to seeing an envelope from them in their mailbox. It is one of the most unpopular government agencies because it is also one of the most powerful in its ability to literally ruin people’s lives.
 
July 25, 2016 Weekly Columns
One of the greatest aspirations we have in this nation is the concept of the “American Dream”. The idea that any person, regardless of race, ethnicity, gender or religion can achieve prosperity, happiness and success has always been a bedrock principle of our national experience. Achieving the American Dream generally relies upon individual initiative, so the best way the government can assist in the pursuit is to get out of the way.
 
June 13, 2016 Weekly Columns
As intentionally spelled out in the U.S. Constitution in the first and arguably most foundational amendment, “Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press.”