Just like the major Schedule A deductions, most of the thousands of other tweaks to the tax code reflect the influence of special interests—whether they be rich people, the Metropolitan Museum, or the National Association of Homebuilders—rather than rational economic or social policymaking. And it has created one other group that benefits from a miserable tax day—the army of attorneys, tax preparers, and tax software creators who hunt for deductions and exemptions on our behalf. These people create a strong lobby against efforts to simplify the tax code and the tax filing system—including the idea of the IRS preparing a draft return that you could simply accept or amend as necessary.
Remove all the deductions and exemptions, and you’d be able to reduce top tax rates, reverse the impact of the sequester, or draw down the deficit—all at once. You’d also considerably reduce the angst of tax day for millions of Americans and even allow for a downsizing of the IRS and the tax industry itself. On April 15, surely that should be an idea with immense political appeal.
Just like the major Schedule A deductions, most of the thousands of other tweaks to the tax code reflect the influence of special interests—whether they be rich people, the Metropolitan Museum, or the National Association of Homebuilders—rather than rational economic or social policymaking. And it has created one other group that benefits from a miserable tax day—the army of attorneys, tax preparers, and tax software creators who hunt for deductions and exemptions on our behalf. These people create a strong lobby against efforts to simplify the tax code and the tax filing system—including the idea of the IRS preparing a draft return that you could simply accept or amend as necessary.
Remove all the deductions and exemptions, and you’d be able to reduce top tax rates, reverse the impact of the sequester, or draw down the deficit—all at once. You’d also considerably reduce the angst of tax day for millions of Americans and even allow for a downsizing of the IRS and the tax industry itself. On April 15, surely that should be an idea with immense political appeal.
—A rather compelling case against tax deductions. Don’t forget, the reason taxes are so unnecessarily complicated is because Grover Norquist and Intuit spend millions of dollars lobbying to keep it that way.