We’ve just made it through our annual exercise in self-flagellation known as “tax filing season.” And who’s fault is that? Don’t blame the IRS, blame the Congress that wrote the four million-odd words that make up the tax code. So it’s always refreshing to see someone inside that particular lion’s den take a critical look at what Congress has wrought.
Jeff Flake is a freshman Senator from Arizona who’s not interested in taking responsibility for the current system, which was written mainly by men who came of age when Packards and Studebakers filled the streets. This month, he issued a report called “Tax Rackets” that takes aim at so-called “outlandish loopholes” that taxpayers like alpaca farmers, magazine publishers, and golf course operators use to legally lower their bills.Continue reading →