Congress has made major changes to our income tax code about every 18 months, on average, since I got out of college some 30 years ago. Constant adjustments to suit various political initiatives - incentivizing this and taxing that - have kept our tax code a difficult hodgepodge. The stridency of the recent debates over our national debt and whether it should be dealt with through taxation or spending cuts suggests to me that the only solution can be some sort of compromise. But to rely on the same two major parties that have continually changed our tax code? Hard to believe the solution comes from that source.
Yesterday's NY Times had an opinion piece that made some sense and is worth a few minutes of your time. You can read it here. I suppose linking to a newspaper article and leaving it at that isn't much of a blog post. But I have to go grapple with the havoc that plunging French banks are likely to wreak on the markets this morning.
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).