As many of you know, tax reform and simplifying the tax code has been an idea suggested by both parties to help grow the economy for some time now. However, each side has their own idea of how it should be fixed. The article below covers the many reasons why any agreement on an issue like this is becoming increasingly hard.
Today, as the basic parameters of tax reform are still being debated, there are no serious options on the table, and the administration has taken only baby steps toward reform. Also, the two parties are far more polarized than they were in 1986, and it is hard to imagine Republicans accepting some of the things Reagan did to make reform work, such as raising the capital gains tax.What do you think? Is full-on tax reform similar to the changes done in the 80's possible nowadays?No one, including Obama, gives me any hope at this time that they are yet serious about tax reform. One reason is that both sides think they will have a stronger hand after the election, but both can't be right. And in the meantime, no one is bothering to lay the groundwork for serious reform.
I liked the 1912 tax brackets.
this problem wont be solved unless totalitarianism lands the states
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