Getting to the important stuff....

I see the there is a panel exploring revamping the tax code. It's about time!!! There is one important caveat to add here: make sure revenues keep coming in to the treasury at the same rate! With all the rebuilding in the hurricane areas and our wars and everything else, the country can't afford to plunge deeper into debt.

Does this mean they couldn't cut spending in a lot of areas? NO! But if any tax plan is to be brought forth, let it be revenue neutral, please!!! The IRS spends hundreds of billions processing tax returns and collecting taxes. If the tax code becomes simpler, then hundreds of billions could be saved.

The taxes aren't too much for me and I think I'm paying the correct amount. But I can't be certain!!! A lot of it, such as capital gains basis from stock trades, seems to be quite subjective. In the end, the amounts paid aren't that outrageous on the income taxes alone. But when you add in all the other kinds of taxes, like sales tax, the total burden is a lot more than we think.

Yes, I certainly want tax reform to keep revenues coming in. But any major revisions would involve working from projections. They won't know for sure until it is tried! I can just see the fear mongers and special interests trying to sink any major revisions before they are tried. At that pace there will never be any reform!