The triumphant republicans promise to make tax reform a high priority in the next few months. Democrats will have counterproposals. Here are some of the words you'll be hearing and how to interpret them.
Start with REFORM. Reform is any change in the tax code that you favor.
SIMPLIFY. The tax code is way too complicated, but proposals to simplify it should be regarded with suspicion--especially if they concentrate on tax rates. Different rates for different levels of income aren't what make the tax system complicated. The complications come in defining income and allowing various deductions and exemptions from it. Some...
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