Sparked by comments from Chairman Bernanke on "60 Minutes" this week, CNNMoney explores tax reform. Although much talk about closing loopholes and therefore lowering overall rates has occurred in the recent months, Bernanke's comments sparked a new debate on the topic.
President Obama seemed to also support some sort of tax reform, although he was less clear about the specifics of a plan. He simply maintains that he is in favor of tax reform sometime before the expiration of current tax cuts in two years.
CNNMoney maintains that tax reform has significant support from both sides of the political aisle. Although the odds of tax reformation occurring within the next few years are improving, it's "still a long shot."
1 comment:
A tax reform initiative from the White House could be a 'game-changer' politically for the 2012 elections. I don't think anyone could predict how that would impact the outcomes, but it would surely create a new dimension for whichever party leads the discussions.
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