amendment that would protected low and middle income americans from new irs audits. cbo says such exclusion would lower revenues by at least 20 billion. and more than just the money the irs can extract from you in taxes. another cost will be compliance. the time and money you ll have to spend to defend yourself against a more aggressive irs. this is from the koto institute. inflation reduction act adds or expands special interest tax breaks and parallel corporate tax structure, those misguided changes would increase tax compliance costs from the private sector. bill, the ira would double the irs by hiring 87,000 employees and additional 80 billion in funding. create a staffing size, well, larger than the population of the president s entire hometown of wilmington, delaware. bill: that would be a
you don t have a profit. paul: elements of value added tax? it s too complicated and some people will pay more taxes. that s going to be a political problem. paul: james, that s true of if i plan, some will pay more and some will pay less and you re looking at loopholes created. and want an efficient, fairer tax. i think what will cain is saying, what mr. perry is going to say next week, look, we re cutting out hundreds of billions of dollars every year in tax compliance costs and we re cutting out perhaps billions of hours people figuring out tax returns. i think you would get some economic benefits out of the cain plan. you worry about does it create the architecture to create taxes later, but what do you mean by that? well, as michele bachmann was playing, what if congress runs the sales tax from 9 to 20 and end up getting high
you don t have a profit. paul: elements of value added tax? it s too complicated and some people will pay more taxes. that s going to be a political problem. paul: james, that s true of if i plan, some will pay more and some will pay less and you re looking at loopholes created. and want an efficient, fairer tax. i think what will cain is saying, what mr. perry is going to say next week, look, we re cutting out hundreds of billions of dollars every year in tax compliance costs and we re cutting out perhaps billions of hours people figuring out tax returns. i think you would get some economic benefits out of the cain plan. you worry about does it create the architecture to create taxes later, but what do you mean by that? well, as michele bachmann was playing, what if congress runs the sales tax from 9 to 20 and end up getting high