Wednesday, May 29, 2013
THE IMPOSSIBLE DREAM
I have no reason to believe that Max and Dave (Baucus and Camp of www.taxreform.gov) are not truly sincere in their attempt to bring about real tax reform. But, while I applaud and wholeheartedly support their efforts, I, unfortunately, do not believe that we will get anything near the true tax reform that is needed anytime soon.
(1) The Tax Reform Act of 1986 was championed by then President Ronald Reagan. President Obama clearly does not want serious, substantive tax reform. The tax proposals put forward during his tenure have been basically to increase the tax rate on the “wealthy”, either through the front door or the back door (i.e. limiting the tax benefit of itemized deductions to 28%), including such truly idiotic ideas like limiting the amount a person could save for retirement, and complicating the Tax Code even more by continuing to distribute social welfare program benefits through the Form 1040.
(2) Passing such an overhaul of the Tax Code would require cooperation by both Parties. Perhaps more than ever in our history the members of Congress are self-absorbed idiots who cannot think independently and are only capable of quoting their party’s script. It is impossible to get anything done in Washington today because of the contentiousness of our elected officials. If a Democrat proposed legislation that would truly end poverty the Republicans would denounce it, and vote against it, solely because it was not proposed by a Republican. And Democrats would, for the same reason, oppose a Republican-sponsored bill that would truly bring world peace.
(3) Everyone in Congress says they want to do away with “tax loopholes” – except for the ones that they have personally sponsored or that provide a benefit to the particular lobbies that have filled their pockets (or the coffers of their re-election campaigns).
So while I can dream of a truly fair and simple Tax Code, and will continue to actively campaign for one, I do not expect to see my dream become a reality perhaps in my lifetime, or at least while I am still in business.
Am I wrong?