im gonna be straight g rated in law school. ...He then went out of the scope of colloquialism and into tax talk that was only comprehensible if you had knowledge in taxation but still interesting to listen to notwithstanding. The underlying message out of this though was that the tax code is overly complex no matter who is looking at it. Luckily I had read something out of the Economist last month that was pertinent to tax reform and simplifying the tax code (which is where I based my seemingly tax intelligible question haha). Assuming the Economist’s veracity, apparently if tax reform were to take place, rectification would mean simplifying the tax code by lowering income taxes, the corporate tax rate, and taxes in a couple of other areas (if I remember correctly) while at the same time offsetting the decreases in revenue by getting rid of superfluous tax expenditures. But with the impecuniosity that currently besets our government and with sequestration in full effect, my only concern besides my trepidation about raising the debt ceiling is that a revenue neutral change in the tax code would not equate to much more than a pretense of bravery.
Posted on: Fri, 13 Sep 2013 19:18:54 +0000
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