Saturday, May 12, 2012
WHAT’S THE BUZZ? TELL ME WHAT’S A HAPPENNIN’
* Trish McIntire offers some good advice to tax pros in her post “Learn to Say No” over at OUR TAXING TIMES.
* Disappointing news from REUTERS.COM in “No Tax Reform Plan Yet: Obama Aide”.
“President Barack Obama's nominee to be the top tax official at the U.S. Treasury Department said on Tuesday that the administration is not actively working on a plan to revamp the tax code, frustrating some of Obama's fellow Democrats.
‘We'd be negligent if we weren't doing foundational work ... But at this point there is no plan that has been developed,’ Mark Mazur, Obama's nominee for Treasury's top tax job, said at a Senate panel hearing on his confirmation. ‘We'll see how this plays out.’
Both Republicans and Democrats, including Obama, call revamping the complicated tax code a top priority, but acknowledge this will not happen until after the November 6 elections.”
* One of Joe Kristan’s Tax Roundups at THE ROTH AND COMPANY TAX UPDATE BLOG led me to this great on the money comment from “Flabbergasted by Obama on Tax Reform” by Christopher Bergin at TAX.COM -
“Our tax code isn’t about collecting revenue. It’s about taking care of political friends and being used as a campaign election issue to divide and conquer the electorate. The point of Washington is to get reelected. And ‘can-kicking’ – which I define as avoiding any difficult tax policy decision -- is an Olympic sport in Washington that our politicians excel at. That is why my answer to the question “When do you think we will get tax reform?” is now ‘Not until something really bad – and I mean really bad – happens’. Is this a great system or what?”