The Republican tax reform plan that was passed in the dead of night last weekend is not really a tax reform plan. Yes, it brings the corporate tax rate down to 20 percent, but it doesn't do the one thing genuine tax reform is meant to do: simplify the tax code. Instead, if signed into law, the bill will make America's already impossible-to-navigate tax code even more byzantine, likely requiring an expansion of the IRS to collect the necessary revenue. Its real innovation is political: The bill functions as a kind of enemies list, a grab bag of tax increases and other policy changes aimed squarely at Democratic constituencies.
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