Definitely. Just saying “simplify the tax code” isn’t going to get me to vote for a person. I like to wait for details (if they’re ever given) and an impact analysis by the usual groups that evaluate tax plans.
*snip. I agree 100% about how complicated business taxes are, and there is simply no damn reason for it. And again, the cost of compliance is rolled into our business model and the costs are always passed on to the end user.
There is no reason why a wage earner’s taxes can be three pages and mine are hundreds. The deductions and credits are not some comprehensive system of what is good and bad. They are a patchwork of favored ideas passed by some politician years ago that may or may not have continued relevance.
Example: If I provide health insurance to my employees, that is a tax free benefit to them. (After the reams of forms). If I want to simplify it and say, “Here is $X per month to buy your own health insurance” that is taxed to the employee as ordinary income.
Further, that extra income may put the employee into an income level where they no longer qualify for expanded Medicaid or other government benefits. In many cases, it is better for the employee if I don’t offer benefits or lower their pay. I have an employee for whom a raise from $12/hr to $16/hr would be a financial disaster for her family.
I’m pretty sure “no retroactive taxation” is code for repealing the estate tax. Hey, a billionaire already paid taxes on his billion dollars, and now you want to tax it AGAIN just because he died?
@Lemur866: It’s either that or code for “Corps can repatriate all the trillions they’ve stashed offshore to avoid US taxes without paying any US taxes on it now. After all, it’s been sitting out there since last year or before and last year is over.”