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Rep. Roger Williams (R-TX) told CNBC yesterday (March 29) that Americans are “scared to death of the IRS.” And as a victim of the agency himself, he would like to see it gutted.
"I'm one of those that would love to do away with the IRS. It's a rogue agency. It scares the heck out of people," Williams, who is a member of the House Financial Services Committee, told “Squawk Box." The congressman explained his own terrorizing experience with the U.S. Internal Revenue Service…
The IRS Showed Up for Money Right After His Father Died
Williams told CNBC that in 1990, IRS agents came knocking on his door just three days after his father’s death. They were already looking to collect from him an inheritance tax – which in certain states is imposed on someone who receives property or money following a loved one’s passing. Williams’ father had left a car dealership to him – an inheritance on which Williams said he spent the next two decades paying off.
The congressman thinks this particular tax statute “is not fair” and is akin to double taxation.
Last year, Williams began pushing to have the inheritance tax removed from the code in a proposal he co-authored alongside several other Republicans.
They called their proposal “A Better Way: The House Republican Blueprint” for tax reform.
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Designed to encourage business investment and generate economic growth in the United States, the Blueprint included several other tax reform measures its authors would like to see realized, including…
- Lower tax rates for households
- Lower taxes on capital gains
- Larger standard deductions
On top of those features, the GOP Blueprint outlined a plan to revamp the IRS into a program taxpayers would find encouraging…