The House of Representatives majority caucus has unveiled a tax reform proposal that could be called dramatic, except it doesn’t really contain any new ideas as far as I can tell. It is dramatic only in that it would represent a significant change from the status quo. It would dramatically simplify the individual income tax.
Because it would represent a significant change, and because the effect of the change would not be uniform across the spectrum of taxpayers (which would of course be impossible), the critics are already out in force, pointing out how the proposal would disproportionately impact their favored constituencies. You could say that if it gets enough criticism from across the spectrum, that means it’s probably a pretty good proposal.
The contents of this blog, this web site, and any writings by me that are linked here, are all my personal commentary. None of it is intended to be legal advice for your situation.