Tax Reform is fraught with danger.
A large book is 600 pages long. Few people will read a 600 page book. But every proposed legislation is thousands of pages long. Every member of Congress & every Senator rushes to get their ideas into the bill. But do any of them read it? No. Do the people who put it together know what’s in it? No. How about the people who write it? No. They work in teams. Does anyone know? No.
The process starts with competing bills. So all that happens twice. If they both pass, a committee will negotiate the differences. Does the committee know whats in it? No. Are they even aware of all the differences? No. Finally it goes back to the full Senate & the full house where it’s voted on. Does anyone know what’s in it? No. If both chambers pass the same bill, it becomes law of the land. Is there a single person on the face of the earth who knows what’s in it? No. Will there ever be a person who knows what’s in it? No. Remember Obamacare. Remember the Iran deal.
After it becomes law, enforcement moves from Congress into the hand of bureaucrats like the IRS. Do they know what’s in it? No. But they don’t care. They are write regulations they think agents can understand and enforce the regulations.
bizztrategy @ Ellis CPA 