U.S. Representative Bill Archer kicked off the LBJ School's new Eminent Speaker Program on March 9 with a talk on "Tax Reform and the Federal Budget."
Archer, who is chairman of the U.S. House of Representatives' Ways and Means Committee, described his goal of eliminating the U.S. income tax system and replacing it with a national sales tax.
Declaring that "income taxes are inherently flawed," he outlined the benefits of a national sales tax, which he believes will make the United States more competitive in a global economy, lower the cost of doing business, and lower the prices of exports.
Archer stressed the need for greater savings rates in the United States and argued that the nation "will become a sponge for savings" under a national sales tax system. He also discussed the need for Social Security reform and his support for eliminating the "marriage penalty" in the tax code. After his address, Archer answered questions from the audience on a wide range of tax and economic issues.
Former U.S. Representative J. J. "Jake" Pickle, who introduced Archer, was among the dignitaries who attended the lecture.
