24/07/2014

Tangled Tax Code Primed for Pruning

Posted by MereNews On February - 27 - 2012

President Barack Obama’s business-tax-overhaul plan underscores the growing likelihood of a serious effort to revamp the nation’s much-criticized tax system, no matter who wins the White House.

The question now isn’t whether a tax rewrite will happen, but how far it will go, and whether it will stop at business rules or also extend to individuals. Increasingly the answer appears to be that the entire tax code, all 70,000 pages, could be in play.

Asked about the odds of a comprehensive overhaul next year, Rep. Pat Tiberi (R., Ohio), the chairman of a key House Ways and Means subcommittee, replied: …

Article source: http://online.wsj.com/article/SB10001424052970203918304577243782950486726.html?mod=rss_economy

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