What Happened to Simplifying the Tax Code?
Taxes

What Happened to Simplifying the Tax Code?

The Fiscal Times/iStockphoto

Economist and investment strategist Ed Yardeni of Yardeni Research in today’s note to clients: “There are lots of good reasons for overhauling our tax system. However, while the Republicans might succeed in pushing for some tax cuts, I doubt that the tax code will be shorter or much simpler than before their reforms. I wish I was kidding, but the reality is that we have the best tax code money can buy. Billions of dollars have been spent on lobbyists and by lobbyists to fashion the tax code to meet the special interests of special interest groups. It’s hard to imagine that Trump will be signing a tax reform package that will significantly reduce the complexity of the tax code. I hope I am wrong, but I’ll believe it when I see it.”

TOP READS FROM THE FISCAL TIMES