Thursday, August 03, 2006

Tax Reform Now

Even the establishment says so

Yes things are on track more and more for the necessary fiscal policy reform in the US. Eventhough, despite conventional wisdom, we do not have a government deficit or trade deficit problem (these things are minor compared to the size of the US economy), we do have a longterm structural problem with the way our taxes are administered.

In the first place we double and triple tax investment in some cases, but most importantly, our tax system is way too complicated. Even the Congress' investigative body says so. But will Congress use this to then actually simplify? One must remain optimistic, otherwise, why live?