Posted on 01/29/2015 4:29:42 PM PST by Sean_Anthony
Obamas version of tax reform is unrealistic and firmly rooted in his vision of middle class economics, wealth redistribution
Obama has consistently talked about how he is for tax reform all during his presidency. But clearly, he has no idea what that even means. True tax reform is a mechanism that produces a cleaner and clearer tax code. A great example of this was the 1986 IRC reform, where Reagan set the highest rate at 28% in exchange for eliminating massive amounts of tax shelters and gimmicks.
Obamas cluelessness on the topic was evident during the State of the Union, where, instead of the simplification that Obama likes to espouse, we got a myriad of proposals that will further clutter the tax code. You cant say you are for tax reform and then present a speech filled with the very items that true tax reform would remove, such as expanded child care tax credits and new community college initiatives.
(Excerpt) Read more at canadafreepress.com ...
The Tax Code of the USA is a political weapon and tool of political expediency. If it had no value as such, and only served the interests of a government that supported the American citizen, it would have been greatly simplified, or eliminated a long time ago.
Obama’s idea of “reform” is more taxation, more redistribution of wealth, and bigger costly government. There is no control or interest in improving the economy via REDUCED taxation. Not part of the far-left agenda.
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