Since most law makers are lawyers who derive a whole lot of business from current tax policy and litigation. It is not in their best interest to pass such legislation.
2007-04-16 04:50:30 · 2 answers · asked by Bruce H 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
I don't think we'll ever see it. And not just because of special interests - most people who really look at it closely realize it hurts the poor and especially the middle class, although it helps the rich, so aren't in favor of it.
2007-04-16 05:40:51 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
It's not just lawyers and law makers... here's a short list of the other special interests with their thumbs in the tax pie:
Tax accountants, tax lawyers, tax preparers
Doctors, hospitals, therapists (medical deductions)
Colleges, Universities, schools (educational deductions)
Churches, charities (charitable deductions)
AARP, Investment businesses (retirement deductions)
Auto dealers, restaurants, entertainment businesses (business deductions)
That's just the SHORT list, not including politicians!
Facing such enourmous opposition, the Fair tax or Flat tax propositions would need the force of another Ronald Reagan to ram it through all those interests.
Sadly, I don't see another Ronald Reagan on the horizon. Maybe someday the IRS will implode upon itself... but then, I can DREAM, can't I?
2007-04-16 12:54:08 · answer #2 · answered by wyomugs 7 · 0⤊ 0⤋