What would Thomas Jefferson say about our current tax system?

What would Thomas Jefferson say about our current tax system?

Jordan Goodman (Personal Finance Author) gives expert video advice on: How many taxes does the average American pay?; How much of my earned income does the government take?; What does the government do with my money? and more...

Well if Thomas Jefferson looked at our current tax system, the first he would say is it's too complicated. It's not done based on equality of opportunity, it's based on lobbying and getting special interest loopholes in the tax bills. A lot of money is spent subsidizing people who probably don't need to be subsidized. So that's something Thomas Jefferson wouldn't like very much. He was all about equality and making it equal for many people across the country. The tax code is certainly not like that. It's bloated with all kinds of favorite loopholes for a lot of special interest so because they don't pay taxes, the rest of their tax burden goes to everybody else. In fact because the U.S. government has deficits, the taxes that are being brought in every year are not enough to cover our expenses. So we have to go into more debt, being put on future generations to cover the lack of taxes that we're getting from the current tax system.