Another great and pithy clip for your Friday…
The data demonstrating the fundamental unfairness and regressiveness of the US tax system never fails to amaze. And yet mindless “eat-the-rich” propaganda continues to rule the debate.
However, the sad truth of the matter is that reform is now near impossible. A simplified system would unemploy far too many influential people and obliterate bureaucratic power. Think of the army of accountants, attorneys and civil servants who depend on the heinously complex US tax code for their livelihood. They simply aren’t going to lay down and take a wholesale “your income times x percent and send it in” kind of reform that could end the corruption and bizarre incentives inherent in the current system.