The present tax codes inhibit the mobility and formation of capital, add complexities and inequities which undermine the morale of the taxpayer, and make tax avoidance rather than market factors a prime consideration in too many economic decisions.
Interpretation
Tax codes can create obstacles for capital movement and formation, complicating the economic landscape for taxpayers.
In this quote, John F. Kennedy expresses concern about the negative effects of complex tax codes on economic decisions. He suggests that rather than fostering a fair and motivating environment for taxpayers, these codes can lead to a focus on tax avoidance strategies, ultimately distorting market behaviors and undermining public morale.
In practice
In a speech about economic reform, one might use this quote to highlight the need for tax code simplification.
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