Sunday, December 16, 2012
Fixing the Tax Codes Complexity Requires a Different Focus
Lawrence Summers has an excellent post up on the Financial Times on where the real complexity is in the tax code, what is and isn't counted as income. These are much bigger deals than the more familiar tax code debate topics, like the mortgage interest and charitable deductions (not that these are small). The estate tax is also a hugely inefficient wealth transfer between generations. I won't try to sum up the post, I strongly suggest reading it.