Tax code

Studying Income Tax Planning module for the CFP course given by CFFP.  This is not more exciting then it sounds.

Some notes.  On the one hand, I can see how deucedly complex is US tax code.  It is layer upon layer of inducements, put on their year after year as the IRS caught up with those who would willfully dosey-doe with it and/or to incent or disincent behaviors at moments of economic stress.  So I get simplifying it.

Then again, it's equally hard to imagine actually doing it, because at any different moment, a million taxpayers might be planning, over the course of years, to take advantage of one provision or the other.

In time, thought, something will give. Simplification will need to happen.  The cost of complying with the Code is manifestly unproductive, and consumers a non-trivial chunk of GDP.