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.
Must See: Secret test site at New Mexico "ghost city." What exactly is going on there? Read more…
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…
[mmpazkzone name="end-story-hostage" network="9794" site="307044" id="138536" type="4"]
The proposal suggested redesigning the IRS into an agency with one singular focus: “service first.”
To this point, Williams added in his interview yesterday that he’d ultimately like to see the IRS “downsized and basically made a collection agency." He stated, “Collect what we're due. Not what we're not due."
Right now, however, the new Trump administration has another IRS-related thorn in its side to address more pressing than onerous parts of the U.S. tax code…
Current IRS Chief John Koskinen...
Why Is Koskinen Still Head of the IRS?
On Jan. 30, 55 GOP members of Congress (not including Rep. Williams) drafted a letter to President Donald Trump asking for Koskinen’s termination.
“Through its targeting of citizens for their political beliefs,” the letter claimed, “the IRS has forfeited the trust of a free people.”
Therefore, the signatories concluded, Koskinen must go.
And yet… the IRS Chief remains, which recently baffled pundits on FOX News’ “Strategy Room” on March 7.
Have a look at what they said…
- Money Morning: [Report] IRS Unjustly Seized Millions from Small Businesses, Still Refuses to Return
- Money Morning: Why Won’t the GOP Repeal Obamacare?
- Money Morning: How to Profit When the Markets Try a Fake-Out