The U.S. tax code is gargantuan and convoluted beyond all human comprehension. According to the Tax Foundation , if you count the actual tax laws, you end up with over 2,600 pages. But if you add the IRS regulations and clarifications, you get another roughly 9,000 pages. Finally, if you then add tax case law, you get 70,000 more pages.
Considering such vast complexity, it doesn’t really matter what basic tax rates are. There is a widespread and legitimate feeling that people who can afford shrewd attorneys will always find loopholes, and therefore nothing much will change. This alone does […]
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