Many years ago, Ronald Reagan joked that for the average person the US tax code is like a daily mugging.
Unfortunately, more than 25 years after Reagan left office, the tax code has gotten worse, not better. Big government politicians of both parties have tried to use the tax code to pick winners and losers. The result has been a tax code that is too big, too cumbersome, and too taxing. And perhaps the biggest indication of the failure of the tax code is that working class voters often pay at a higher tax rate than wealthier people who live on investments.
As a native Texan, a conservative activist and an attorney, I have seen firsthand the devastating effects our tax code and federal overregulation have had on our nation’s economy and jobs. The current regulations and taxation structure target the energy industry and impact not only Texas but our entire nation.
The time has come for fairness in taxation. And that means the time has come for The FAIRtax. We can debate the different versions, what level and how to implement The FAIRtax. But no one can debate that The FAIRtax makes the most sense and that it taxes everyone equally.
Clear tax policies free of government social engineering that tries to reward some behaviors and punish others would be replaced with true free market principles. Free market principles that our energy industry vitally needs at this time.
For the Texas oil and gas industry, the Fair Tax would generate new growth and opportunity. Energy companies wouldn’t have to worry about burdensome federal taxes. They would just pay as they buy products. This would free up money for investment and money for hiring.
The tax code should be about generating just enough revenues to cover basic government functions like infrastructure and not try to pick winners and losers through some artificial bureaucratic sense of social justice.
I am running for the Texas Railroad Commission, an agency that oversees the Oil and Gas industry in Texas. My intention is to stand with likeminded free market based Americans and push back on federal overregulation and replace the tax code with The FAIRtax. It’s the right thing to do. It’s the smart thing to do. It’s the fair thing to do.
John Greytok is a native Texan, a conservative activist, an attorney and a Christian husband and father. He is currently running for Texas Railroad Commissioner. Visit johngreytok.com.