And in the process. we would continue to provide for the needs of all our citizens. On the other side of the budget equation. we are faced with a contracting revenue base. which also contributes to the size of the deficits. There are three reasons for this contraction: First. the economy is simply not producing. Second. there are too many preferences and loopholes in the Tax Code. And third. there is a growing number of refugees seeking asylum in the underground economy avoiding paying taxes on their income. Congress must find ways to reverse these symptoms. The Nations taxable base must be strengthened and expanded. and the rates of taxation on the base lowered.
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seeking asylum refugees