Smith: To meet world’s challenges, US economy has to be enhanced

By the McCook Gazette

McCOOK, Neb. — The key to meeting challenges on the world stage is to enhance our own economy, U.S. Rep. Adrian Smith told the Gazette Wednesday.Issues such as ISIS-ISIL, Syria, Ukraine and Gaza “are very heavy on my mind,” he said, including the latest video showing the gruesome execution of a U.S. journalist.

“We need to keep all our options on the table,” Smith said, faulting President Obama for indicating otherwise. “That doesn’t mean you have to use all the options available,” but need to take a stronger, more strategic stance.

On the Keystone XL, he joked that one rancher was opposed to the proposed route through northeast Nebraska, saying he wished it were going to cut across his land.

Nebraska’s energy options are handicapped by the inability of public power districts to take tax credits, but on issues like wind energy, something needs to be done to make the math work out.

To help strengthen the economy, Smith, a member of the Ways and Means Committee, hopes to advance a tax code that is flatter with a lower rate.

Americans pay $168 billion each year just to calculate their tax liability, he said, which could easily by saved by tax reform.

Sixty percent of tax filers use the standard deduction, and 40 percent itemize, he said. A current proposal would result in some 95 percent of filers taking the standard deduction, thereby reducing costs associated with filing.

“It’s not as good as a flat tax or a fair tax,” he said, but it would be a vast improvement over the current system, which is favored, in its entirety, by no one.

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By | 2017-06-06T09:43:11+00:00 September 5th, 2014|Media coverage|0 Comments

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