Thursday, December 28, 2017
TRUE TAX REFORM
The “Tax Cuts and Jobs Act” is NOT tax reform. Congress was correct not to include the term “Reform” in the bill’s title.
The Act adds more complexity to the Tax Code than it provides simplification. And it retains most of the current complexity.
Deductions, credits and loopholes that provide special treatment for specific actions, industries, and groups, the distribution federal government social welfare and other program benefits, and refundable credits still remain in the Tax Code.
Here is, in my opinion, what true tax REFORM would look like (click on the title) –