- Nov 26, 2011
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why just not do a tax overhaul? it is needed every 25-30 years as in this time too many loopholes are created.
A ban on all tax expenditures would prevent all loopholes, deductions, credits, subsidies, whatever you want to call them, from creeping back in.
I'm not talking about selective closing of some here and some there, while protecting sacred cows. I am talking about getting rid of all of them.
Not only that, if you take away the ability of a Congressman to place a tax expenditure (loophole, deductions, credits, etc.) in the tax code, you remove all incentive to give that Congressman money for his campaign for doing so.
And I am talking about tax overhaul.
existing tax law allows to bypass all your bans so it is not going to be efficient.
Nope. Existing tax law allowed for the last tax overhaul to be bypassed. So it won't stop yours, either.
Congress has been adding an average of one tax expenditure a day for over a decade now. And after your lame overhaul, they will continue to do so. In fact, you will have replenished the campaign cash incentive for them to do so. Just like the last one did.
Insanity is doing the same thing over and over again, expecting a different result.
A simple act banning all tax expenditures would stop this cycle. Permanently. The Act itself would have to be repealed to byass it.
Since the Republicans will never buy off on a ban, it would probably take a Constitutional amendment to enact the ban. And that would definitely not be able to be bypassed.
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