Personal accounts offer two fundamental advantages for smallbusiness: actions that the government would not have to take(unnecessarily raising taxes or cutting Social Security benefits)and results that the private sector would generate (enhancedentrepreneurship, strengthened capital markets, and improvedretirement incomes). Empowering entrepreneurs in this way wouldbenefit the entire nation as additional jobs were created andeconomic growth was sustained.
Congressional efforts to fashion the FY 2004 budget come at a timewhen the United States faces weaker than expected job growth,shrinking consumer confidence, and a heightened level of risk anduncertainty. Among the plans being considered is one that PresidentGeorge W. Bush proposed on January 7, 2003: a bold tax reformproposal that would increase economic growth.
Legislation to remedy many of the most punishing regulatory elements of the Dodd–Frank Act is pending in Congress,[REF] and debate over revamping Title X of the law, which created the Consumer Financial Protection Bureau (CFPB), is particularly contentious.
The recently released Citizens for Tax Justice study of corporatetaxation is filled with errors and omissions. The report's mostdisturbing aspect is that it purports to show the actual taxpayments of 275 large corporations, but never mentions the factthat this information is not publicly disclosed.