Tags: tax | reform | Baucus | Reid

Senate Proposes More Absurd Tax Reform Fixes

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Monday, 25 Nov 2013 09:15 AM Current | Bio | Archive

Tax reform is once more in the air.

Senate Finance Committee Chairman Max Baucus (D-Mont.) has put forth a series of major tax reform proposals because the tax code is broke and needs fixing.

Baucus gives every indication that this time around he is serious, even though the last 30 or 40 tax reform bills did not do the job.

He intends to take America on a voyage to overhaul the tax code, combat tax fraud and reform key areas of international tax law. In other words, he is going to “fix” it.
Only Washington politicians could, with a straight face, come up with legislative proposals so at odds with reality.

We are told these are the first of a series of drafts that should overhaul the tax code to spark economic growth, create jobs and make U.S. businesses more competitive.

Considering how long Baucus has been in the Senate, his reasoning for the need to reform the tax code and his description of the law reads more like an indictment rather than tax reform proposals.

He describes the current tax code in three proposals.

First, "Our tax code today is inefficient, and incomprehensible to the overwhelming majority of Americans. This complexity is eroding confidence in our economy and creating uncertainty for America's families and businesses. Enough is enough. This discussion draft explores ways to simplify the tax process for all Americans."

Second, "America today is using a bloated tax code. The code is completely outdated and acting as a brake on economic growth. More must be done to simplify tax rules, lessen the burden on small businesses and jump start job growth."

Third, “Over the past three years, the Finance Committee has examined every aspect of the tax code in an effort to fix a broken system. The complexity and uncertainty in the U.S. tax code puts America at a disadvantage in the global economy and stifles competition."

Baucus deludes himself in thinking these proposals will enable Democrats and Republicans to have a “conversation” and “may be able to reach agreement on how to fix the broken tax code.”

No doubt Senator Harry Reid will lead the effort to bring Democrats and Republicans together. Maybe they can also fix healthcare while they are at it?

As for any actual tax reform that will benefit our economy and create trust in government, it is absurd to even think the Senate is capable of it.

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Tax reform is once more in the air. Senate Finance Committee Chairman Max Baucus (D-Mont.) has put forth a series of major tax reform proposals because the tax code is broke and needs fixing.
tax,reform,Baucus,Reid
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2013-15-25
Monday, 25 Nov 2013 09:15 AM
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