Glick Report
  • February 6, 2009 03:20 PM EST by Alexis Glick

    Our Tax Code Needs an Overhaul

    I don't know about you, but I am becoming outraged about the daily barrage of Cabinet appointees who owe taxes for one reason or another. I'm outraged because we have a tax code that is outdated and pathetic. How far are we going to take this? I understand we want to hold Cabinet appointees to the highest standards, but come on... how many of you have made mistakes on your taxes? Probably everyone. It doesn't matter if you're a physicist, a forensic psychologist, a brain surgeon, an accountant or a lawyer -- odds are you've made a mistake.

    I was so upset about this yesterday that I sent half a dozen notes to my producers begging them to get Steve Forbes on the show this morning. I am someone who has always dreamed of having a career in public office. At this rate, it'll never be possible. How many people like me have become so discouraged with the process that they've said forget about it, it'll never happen? I haven't done my own taxes since I graduated from college. How would I know if I made mistakes and what those mistakes were? I'm outraged. The IRS needs an overhaul.

    Thankfully, I didn't need to yell and scream. Steve kindly joined me this morning to do that for me. He gives an even better argument for why our tax code doesn't work. Thank God for Steve and his reasonable point of view. Take a look.

Richard

I am a CPA and have been preparing tax returns for ovwe 30 years. We do not want the Congress to do an overhaul because the last time they did it (mid '80's) the code went from 1 book to 2. The best thig we can do is junk it and the IRS and go to the "Fair Tax" I know this puts me out of business but that's OK because i'm tired anyway

February 6, 2009 at 7:21 pm

chuck

Alexis I agree with u. this old antique tax code creates a double standard. Why should politicians not pay taxes when everyone else does? What makes them special and gives them special rights? It's time for a real overhaul. How many other politicos stories are about to break on not paying backtaxes? But the IRS needs to streamlined and a RIFED for its own sake.

February 6, 2009 at 5:33 pm

about this blog

  • Alexis Glick is an anchor for FOX Business Network. Prior to joining FOX, Glick served as a correspondent for the Today Show and co-anchored the third hour of that program. Before her stint at NBC News, she was the senior trading correspondent for CNBC and reported from the floor of the New York Stock Exchange.

most popular posts