The much promised tax reform
Is touted as the most comprehensive tax reform since the 80s.
Leading the proposed changes is a 15 percent reduction in corporate income tax.
As for the individual tax — the front runners here are:
- eliminating inheritance tax and
- eliminating the deduction for state and local taxes.
But the much promised tax overhaul is being marred by feuds.
The proposed tax reform plan has attracted some high profile critics, such as Warren Buffett.
Buffett thinks that a lower corporate tax would not help our deficit.
In Congress, divisions among the legislators do not mark this as an auspicious beginning for the tax reform.
There is a lot of talk about Adult care center, Liddle Bob. And more of the same.
Amidst these and other similar Washington “grown-up” talk the tax reform is slowly moving.
If moving at all.
Let’s hope it doesn’t take the same “route” as the Affordable Care Program.
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