As a follow-up to my post yesterday on the House proposal for revamping the income tax, the proposal would make two major, long overdue changes. First, it would substantially simplify the individual income tax return. I have written on several occasions about the inexcusable failure of the government to do anything about, or even recognize, the fact that filing a tax return without professional help has become impossible for most taxpayers. Second, it would eliminate the alternative minimum tax. That tax is a monument to a federal government that is so addicted to revenue increases that it can’t bring itself to repeal an abomination of a tax that was initially enacted to try to punish a handful of taxpayers who weren’t paying enough to suit the government.
The income tax in its current form is worse than just a monument to government inefficiency. It is doing significant harm to the country. Fixing it might be the best way for the Congress to restore some measure of confidence in that body's ability to effectively govern the country.
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