It’s been 18 years since the last serious effort to reform the nation’s tax code, and once again the chorus is rising to fix the badly out of date system. Democrats and Republicans alike agree that tax reform would help spur economic growth and fix inequality in the system, and Republicans are even hinting that if they win the Senate in the midterm elections, tax reform would be one of their main goals during Obama’s last two years in office. But despite this outward showing in favor of reform, what are the chances this actually happens? In our opinion: Don’t hold your breath.
Read the full memo here.