There are apologists for Mitt Romney’s wealth, and I for one don’t begrudge him for being successful as he is wont to point out in every debate. What is troubling, though, is not that he paid a lower tax rate on the money he made, it is how the tax code allows him to structure his income so that it receives a special break. Romney did the same as anyone of us would do if we had the means to take advantage of the code. Different sources argue whether various forms of investment income really provide that much capital to create jobs. I have read that it is nowhere near the amount as some of those who benefit from the breaks would have you believe. Interesting too is that many Americans are unhappy that almost half of all Americans pay no income tax, but for some reason they are okay with the more advantaged paying a much lower tax rate than most middle class earners.
Senator Johnny Isakson has spoken to any number of groups, including Marietta Kiwanis where I am a member. Many of these canned speeches are summarized in the MDJ. The senator has staked out a position, a mantra, that taxes and regulations are killing small businesses. In my opinion, the worst and most burdensome regulations are those that the IRS disseminates. I think most Americans agree that we need a tax code that is simpler, reaches more people, and is more equitable. I would urge Senator Isakson to do more than complain about the current system that he says he doesn’t like any more than I do. I would urge him to be the sponsor---not co-sponsor of someone else’s bill---but the sponsor of his own bill that would revamp the tax code and tax regulations. I would urge Senator Isakson to show some meaningful leadership and begin working on this project. Perhaps he could put together a group of professionals to work on some ideas, to work with his staff, set some timelines, and put something of substance on the table that can be acted on. His constant complaining and blaming Obama and the Democrats for all our economic problems is not moving the ball down field, and if he were to do more right now than just talk, he just might have a Republican senate in the near future that could make his reform efforts happen.